Another SFR Under $20k!

Brook Ave, Indinanapolis, IN 46218
Hardwood Floors throughout, driveway, huge lot, and many other great features! This home is near rent ready, some minor touch ups and this will be a cash flow'n cow!

2 story home
Basement, (furnace & water heater)
3 Bedrooms
2 Bathrooms!




The Real Deal:
Wholesale Price: $19,000
SOLD

Need Financing for Las Vegas Leasehold!

**Sorry, no names, companies, or principals will be named in this ad. You must have an executed NCND for the complete package**

Smoking real estate deal on a 27 year leasehold on 25,000+ sq ft at a very famous seasoned casino with a mall located on the Las Vegas strip. The current tenants can no longer keep the doors open, and are very motivated in selling their lease to another party. The party buying the lease is in need of funding $6M to buy out this lease. Essentially, it is a first mortgage where the collateral is the leasehold (appraised at $16.5mm, we hold the appraisal.) and tenant improvements (of about $10,000,000).

The deal requires $23,500,000, of which the principals have put together $17,500,000.

They are raising the last $6,000,000 as senior secured debt, secured by a lien against the leasehold (appraised at $16,500,000) together with about $10,000,000 in leasehold improvements.

The submarket lease has rents payable to the "major casino" of $2,250,000 annually.

We have subtenants who are providing rents as follows:

Themed Restaurant – 15% of gross sales against $2,250,000 minimum annually

Nightclub – 20% of sales (estimated to be $2,000,000 annually)

Theater - $10 per ticket against a minimum guarantee of $4,000,000 annually (as a target)

Themed attraction – 20% of sales (estimated to be $1,000,000 annually)

Souvenir photo program at each location – (estimated to be $500,000 annually)

Total cash in from tenants – $9,750,000 annually

The Real Deal:
Principals are suggesting a 5 year term with a 14% interest rate, interest only the 1st year, and P&I on years 2-5.

Cash Flow'n Duplex in Kokomo Indiana

West Jefferson Street, Kokomo, IN 46901
Duplex: Located 30 minutes from Indy.
$30,000 in equity and 50% LTV!
Section 8 approved!
NO repairs needed!
Unit #1: 2 Bed/1 Bath, 1000 sqft, is already rented for $450!
Unit #2: 1 Bed/1 Bath, currently vacant, but can rent for $375
This already cash flows with only 1 unit rented, get the other rented and pay down the debt!

The Real Deal:
Wholesale Price: $30,000

Cheap Rehab Located in Indy!

Eugene Street, Indinanapolis, IN 46208
HUGE HOME: Hardwood Floors through. 4 Levels including Basement, 3 finished levels (Attic Finished, Huge Back Deck. second entrance in back. originally 4 Bedrooms, But not since Attic is finished I would say like 6 Bedrooms and three bathrooms! Approximately 3,300 sqft total!
Main Level: 900
Second Level: 900
Third Level. Appr. 600-700 SQ FT
Basement: 900 SQ FT
Parking is availabe in rear
The Real Deal:
Wholesale Price: $16,000 w/ 10 day cash close
SOLD

Get this Condotel Before the Bank Does!

Partnership break up, leads to discounted Hotel! 28 Unit ocean front furnished Condotel, located in St. Augustine historical town! Vystar Credit Union here locally has agreed to carry the note for a client with good financials. First Federal Bank of NE Florida has agreed to do the financing of each individual unit. Sellers need this closed within 30 days, before the bank takes it back!

Year Built: 2002
Square Feet: 11,838
Lot Size: 21,998

The Real Deal: $3.6M Asking Price $4.5M Land Value (2004) 55% LTV (Based on Condotel)

Take Over Payments! Sub-2 in Az

That's right, take over 3 SFR's in AZ subject to the existing finance in place! No need for getting a loan, not risking your own credit, and only $7,000 each, or buy all 3 for $15,000! Owner leaving the equity and awesome terms in place! Just wanting to get out of all her properties.

Property #1 Greenvalley Az
Owe: 1st Mtg $147,700 Payment: $1,097.84 I.O. Taxes/Ins incl.
7.00% 10 yr IO 30 yr fixed No Prepay HOA: $45 every quarter
Value: $180,000 to $185,000
Year Built: 2004 4 Bed 2.5 Bath 2 story 1,529 sqft 2 car garage
Currently Vacant, but rents were $995
**Seller willing to sell with existing financing in place for 5 years max!!!**


Property #2 Tucson, Az
Owe: 1st Mtg $140,000 Payment: $1,038.00 I.O. Taxes/Ins incl.
7.375% 10 yr IO 30 yr fixed Prepay (up in Dec 2008) HOA: $22 mo
Value: $160,000 to $165,000
Year Built: 2004 3 Bed 2 Bath 1 story 1,133 sqft 2 car garage
Currently Rented $900
**Seller willing to sell with existing financing in place for 5 years max!!!**

Property #3 Tucson, Az
Owe: 1st Mtg $141,000 Payment: $1,030.65 I.O. Taxes/Ins Inc
6.625% 5 Yr IO ARM (Adj 2010) Prepay (up in 2008) HOA: $58 every quarter
Owe: 2nd Mtg $17,800 Payment: $164.65 10.50% 30/15 balloon
Value: $185,000 to $190,000
Year Built: 2003 3 Bed 2 Bath 1 story 1,395 sqft 2 car garage
Currently Rented: $875
**Seller willing to sell with existing financing in place for 5 years max!!**

The Real Deal:
Our Assignment fee is $7k each, or buy all 3 for $15k.

33 Lots Take Over Payments w/ $1M equity

***UPDATED***10/23/07***UPDATE***

New Details: Owner is willing to buy back 6 of the 33 lots at $175,000 each! Owner just stated he can't handle $3M in debt, however would be able to handle $1M in debt. That would mean the new owner/developer would receive $1,050,000 in sales for 6 lots, resulting in $366,000 in cash flow!

Recap:
Assume $3,100,000 debt for 33 lots
$660,000 to complete infrastructure
Total investment; $3,760,000
$114,000 Cost per lot ($3.76/33 lots rounded)
$175k sale price less $114k purchase price as completed x 6 lots = $366k CASH FLOW UPFRONT TO SERVICE DEBT!

Seller can no longer afford payments. Partners were in the mortgage biz, and bailed on partnership. Development order is approved, shovel ready, 33 lots (4.6 acres) with water, sewer and all utilities installed, and has invested over $1.4M on this project. Comparative lot sales were 350k 18 months ago. Recent home sales in the adjacent developed - 1500 sq ft homes selling for 475k. Build costs are running 120 a foot so that puts the value of the home cost at 180k and the lot value at 295k. Owner would consider buying back lots after closing. Contractor quoted seller $120 psf to build out, he is currently building 2 homes on this street which are 1600-1800 sq foot and the developers got them listed for 595k.

• Preservation fee 70,440
• Traffic concurrency 120,750
• Infrastructure 299,000
• pool and poolhouse 65,000
• pool pavers 10,000
• Road Surface 45,000
• Replat 50,000
• Total: 660,190

• Loan 3,100,000
• Total land cost 3,760,190
• per lot cost 113,945
• Home cost 180,000
• Total land & home 293,945

Keeping it under 400k would be a very competitive retail price, 5% commission, thats 20k. net out 380k sales less cost of 293,945 nets about 86k per lot x 33 lots or 2.8M profit.

The Real Deal:
Assume the existing loan $3.1M w/ $24k payments, trade your $1M debt property, and walk into $1M in equity on this new project! (Seller is willing to trade his property with existing equity, for your property that has $1M in debt!)