OfflineOk so I found a 3/1 in ohio with my team. The bank was asking 7.8k (yes that's $7,800) and it needed 2k in repairs to make it turnkey. I offered 5k cash and the took it. I rented it last week for $600 per month with option to buy with owner carry for 40k. The payment will be only $25 more than rent and it will lock in my 122% cap rate. Yes that was not a misprint....Holly crap...I can keep it or sell it to one of you for 25k with a free home warranty and property manager in place for a year. Oh my god how easy is this...NOW GO GET SOME
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Not having a goal is worse than not setting one..
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Can you please tell me the city?
Thanks Joseph
I keep that stuff to myself..I don't want to many dger's driving prices up you know..
Not having a goal is worse than not setting one..
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I just got a phone call that this house is pre rented...625 per month with 1k down. The house is on a rent/lease to own in 6 years. So, if you total this up:
Purchased 5k
repairs: 2.5k
Lease option: 1k
Monthly payments: 625
Term is 72 months
625 x 12 x 72 = 45k + 1k = 46k or one BA return on my investment.
Updated: I had four going at the same time and I posted the wrong pic here..The one above was purchased for 9k and is rented for 600. NOW GO GET SOME
Not having a goal is worse than not setting one..
http://www.deangraziosi.com/real-estate-forums/investing-journals/92139/... -
http://www.deansmedia.com/play.php?vid=266
I see you have learned how to post pictures so show us your wrap on your car..... please !!
it is only when you do a new post because there is no link here...Ok walt it is posted under marketing (wrap it up)..
Not having a goal is worse than not setting one..
http://www.deangraziosi.com/real-estate-forums/investing-journals/92139/... -
http://www.deansmedia.com/play.php?vid=266
Hey walt did you see the post???
Not having a goal is worse than not setting one..
http://www.deangraziosi.com/real-estate-forums/investing-journals/92139/... -
http://www.deansmedia.com/play.php?vid=266
I was ask what the cap rate would be on the above deal:
Purchased 5k
Repairs 2.5k
Rented 600
So you take your rent minus your cost= 600-50 tx-40 ins- 60 PM= 450
450 x 12 =5400
5,400 div by your total cost 7,500 = .72 or 72% roi per year or one BA reture:)
NOW GO GET SOME
Not having a goal is worse than not setting one..
http://www.deangraziosi.com/real-estate-forums/investing-journals/92139/... -
http://www.deansmedia.com/play.php?vid=266