NEWT IG LIVE

 only buy in orange


zoom out, see the entire city of philadelphia


he turned 4 bedroom into ready to rent. 


yellow is only single family housing. bad to me one is too close to none. 


I only invest in orange. IS IT OK TO MAXIMIZE EVERY DEAL?


AFTER THIS YOU CAN GET OFF THE ZOOM. SUNDAY NIGHT. 

TEACH, TEACH, DEFINETELY.


property zoning- orange.

how many units can we get? 

we must have 250 sq ft of land. if lot size is 


and divided by 360 sq ft of land. 3.05 round down to next decimal point. 


250 sq ft per unit. if i wanted to have 2 apts how much sq ft do i need? 720. if 3 apts, how many sq ft? 1080.

ig i have 1500 sq ft lot how many units can i get?

you cannot round up. hey neighbor, can i get some of your land to make my land bigger?

ORANGE SECTION- BUY RIGHT. no one to discuss with. 


HOW MUCH WERE RATES?

between 6 to 7 percent before COVID. (2019)


What happened during the pandemic?

They were as low as 0 or 0.0001. rates were so low. (THEY WERE?)

now we are out of the pandemic. what did the rates do? where are they at today? 

BACK AT 6-7%.


this is not a recession. its market correcting itself. 



BTR


lower taxes, doing buy and hold (no capital gain taxes on fix and flip)

with btr, you have cash flow. month to month cashflow. 

lower holding cost and build costs. 


not going all out. 

BUILDERS GRADE STUFF. have to pay mortage while doing the construction. 


blackstone owns 37k units. rents all from us. can charge as much rent as we want. 


better areas and schools and activities and no crime then you gotta pay our rent. 


HOW TO FUND THE DEAL


lender will give you 70 to 75% of the appraised land. because its not marketed, we ont know about it. 

i asked. called lender back. we do this but we dont like to do it. 

NEWT- got property under conrat, piece of land. straight dirt. 47,000. 

i knew how much sq ft needed for apt? 360.


i know i can build 9 apartments. got plans from the architect. 

i took the plans to the appraisel, how much will this property worth right now and how much when its built?


360k. AFTER REPAIR VALUE IS 1.7 MILLION.


47K TO 1.7 MILLION. 


i didnt buy theland. i did all my due diligence. i got the property appracsed and drawn up. 360k as is (dirt)


37k to 360k by not doing anything. this i waht teh lender appraised it. 


4 UNIT BUILDING


HE USED THE EQUITY AS THE DOWN PAYMENT OOOOOO


they aave him money back at the closing table, because the deal so good.


22K GIVENT TO HIM. 


400K IN ONE DAY, DUE TO CASH OUT REFINANCE.



BTR 0 find property. et under contract super cheap. and get it appraised, it comes up to here (way higher)


get construction loan to mae the property look amazin.g


cash out finance. pay back first lender and get new mortgage for 30 years. rent money is paying that down.  DEBT TO THE BANK BUT TENANTS ARE PAYING THAT DOWN EVERY SINGLE MONTH. 


YOU KEEPING EVERYTHING THAT IS LEFT OVER. 


PROPERTY pay mortgage and property taxes.


ppl that dont pay property taxes go on this website right here. 


tax deliquency list. even if they owe a dollar. its public records.


city of philadelhia 109 all zip codes start. he looks for properties in zip codes he likes. 


19133 which is zip code he loves. 


searched, roger owed 120k in property taxes.


gets sent to auction and sherrif's sale. maria hasnt paid since 1978.


what he's gonna do? step in, if you want to. sell it to me now, you are gonna lose it to the city. i'm gonna offer Maria an offer she cant refuse. i'm gonna give you 15k and i'll tkae over the debt.


10-15k and take that and i'll pay the 39k. i'm gonna go to city of philadelphia and negotitate it off. only paid 35k if i gave maria 15k and negotiated down with city to 10k. can i work a deal? 1978. dont they want some money? can we work a deal out? negotiatve with teh seller and the city. 


get a contract, dont buy it. if city doesnt work the deal you are not stuck with the debt. 









Comments

Post a Comment

Popular posts from this blog

Compromising

Image
Who am I? Who are you? Are you pretending, just like I am too? Then there is a pair of us, don't tell!!! Then they will know, then they will see... Just like Adam saw Eve and they hid because they saw that they were naked and were ashamed.   So why are we ashamed? To be who we are? Why do we settle? To please others at the compromise of ourselves. Why, oh why, does this tale go this way? Like Don Quijote, I've been searching for  adventures,  but no worries hasn't taken me 700  pages to get to it.  I am still walking through this  life and today I   made a choice:  I will not  compromise, just like my  roomate Faith would  say  'Never settle for  less.'  Because when you settle  oh boy, t he good  thing you were waiting for, now  you won't get it.   But when you refuse to settle  you  are walking  along this road  and then one day  ...
Read more

Dispatch zoom 2.25.22

1) Use Ashley for factoring. 2) Freight Guard- it's not forever. It means someone is delivering freight late, its like a black list. It's not reliable.  3) 3 updates a day, when you do get a load. hey we're there. we picked up. we're in route. we are done. those are it.  Justin: I used to do uber freight. they would call even if i put updates. they call at 11pm. I would email them, it would be okay. (with most brokers). a lot of people dont know how to communicate, when they find someone that does its valuable.  4) terminable offense: denying too many loads. it happens with box trucks. people that pay 50k for their truck they value the opportunity.  b. pick up the phone call. when i call, i need to talk right away.  c. carrier doing the right thing and its not a good carrier, just leave them alone.  d. that money ,you not letting the money come on time. auto charge. credit card authorization. stripe email, you forward to charge the card on the weekly. ...
Read more

Guess who?

This time of the year is feeling lonely. I cut off my hair and joined a gym. Am tired from lack of sleep. This is the new scandal: Manuel is not the father. Say What??? So I stayed up last night and we talked about it. He took it well (just like the first time) but he keeps the door open, then one that I have closed. Waiting patiently for my husband. I'm already 29. God take your time don't want to rush like before. Just want to sleep and feel more than lonely when I walk the streets. Baby crying in my ear, I'm tired. Applying for jobs and going outside in the coldest winter ever, with a baby and a stroller and getting yelled at by my mother who wants me to keep the baby (and therefore myself) inside all the time. But all the things I want are outside my comfort zone so go figure. Life, what do you have? Love, when will you come? I've stopped idolizing you and am settling for this feeling when I'm alone walking the streets. Baby is so sweet but I just w...
Read more