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Since we have purchased 3 homes and have another one in the wings, we can work this strategy with actual numbers. Please refer to the Excel Spreadsheet provided with this Newsletter. With an initial investment of about $91K for our first five properties, we should generate approximately $14,625 in net income, a 16% return. However, when 80% portfolio financing is in place with a credit partner, we should recoup about $80K bringing the initial investment under $11K. With two thirds of the cash flow remaining with YOJ, the CoC return should be approximately 65%. If we can continue the strategy to 25 properties, we should be cash flowing $34k per year on a total investment of under $45K which is a CoC return of 79%. Keep in mind that we are being quite conservative in our assumptions on expenses, with fully 55% of gross income going to cover vacancy, operating expenses, and reserves. If we experience lower expenses over time, the numbers will improve.
As you may see in our previous post, we are currently doing something similar to this in St. Louis, MO. I am also exploring doing a similar strategy with mobile homes in South Dakota. Keep reading our posts.
At the point where we have 20 25 properties in the portfolio, we have a number of different options. Clearly, keeping the properties in place for cash flow is warranted. But this type of portfolio may also be attractive to either an individual investor or possibly even a hedge fund at a CAP rate which could result in significant Nike Jacket Hoodie Grey capital gains. If sold, we would 1031 exchange this into a much larger commercial property. Our strong desire is to duplicate this strategy in a number of markets throughout the country. Jacob Day is someone I met on BP and Dan Boecher is a banker Jacob introduced me to. Their phone numbers and websites are included in the post and you can contact them directly. If you want to invest with us, you can contact me as well. I have my contact information posted on BP but my cell is 858 449 9847. There will be advantages in investing together but our strategy Nike Dri Fit Tracksuit
cheap properties and no shortage of tenants. There has been a tremendous amount of development over the past 10 years. Their downtown district has major developments or renovations going on with old buildings being converted to apartments or condos along with new construction projects that are pre leasing and selling with 100% occupancy. He currently has 325 homes in his portfolio many of which he owns himself. His management company has been operating since 2008, and their occupancy rates have always been above 90%, and the past two years it has been at no less than 93%. He helps other investors by finding these properties, fixing them up, renting them out and managing them getting CoC returns of 15% or more. These homes can be purchased from $15K to $19K. They can be rented out from $500 to $550 per month. They require several thousands of dollars of work and will appraise for $20K+.
Jacob Day lives and invests in South Bend, IN in single family homes (Cell: 574 315 6527). South Bend is the third largest city in Indiana and home of The University of Notre Dame. Outside of ND, it is primarily a working class city with a lot of Nike Womens Jacket Red
is nothing new and can be duplicated by anyone.
We plan to spend about $100K into the South Bend market. Our strategy is to purchase 5 homes for an average price of $18,000 Nike Sb Long Sleeve Top
each. If they appraised for an average price of $20,000 each, then we can finance out $80,000 which will give us most of all the original investment of $90,000. With these funds we will purchase 4 more homes. We will then get increase in the LOC for the 4 more homes. With the increase in LOC, we will purchase 3 more homes. We will repeat this process until we have bought about 15 homes with $100K. We believe that after 15 homes, the cash flow from the homes themselves should allow us to purchase a new home every few months.
2013 South Bend
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