August 2010Hello to the investment world:
Public Appearances:
- 8/14 Road trip to Indy-See why Indy is the best cash flow location, above any other city. We will be visiting all of the properties that I have developed as well as future builds from condos to mega apt complexes. Everyone is welcome to attend. Please RSVP dont delay contact Mike today. This is the best opportunity to learn positive cash flow investments. Lets meet property management and rehab teams and tour the properties that got me into the Hall of Fame.
- 8/18-New York-Fishing in NY for Blue fish-2702 emmons avenue 11235 that we can meet at as a landmark (J V bait and Tackle). I am planning on being there at Brooklyn VI is the boat, which according to the schedule on Brooklynvifishing.com departs at 7 and gets back at 3pm at a cost of 55 dollars per person plus rod and other materials of course. Please get there prior to 7am, the boat leaves at 7am. Lets catch some Bluefish.
- 8/19 New York location 6:30pm-305 Seventh Avenue @ 27th Street, 11th floor New York, NY 10001-6008 Stop the Gambling- learn about how the Government, banks and corporations manipulate our lives and what we can do about it. Alternative financing and how we can work with each other as business partners.
- 8/28-1835 W Orangewood Ave #303 Orange, CA 92868-1pm- Stop the gambling and new networking format. Open forum for those that have seen my class. Bring your friends to understand positve cash flow investments. Dinner after with networking parnters. Cost $10
44 Mobile Units in Tampa Bay, FL-attached is the current rent role on peforming units, the net operating income is $5k/mo. currently at very low occupancy of 20%. There are about 10 units that are occupied and not paying that need to be evicted, I am not including these in the OCC. On the attachement you have the current repairs for the entire 44 units. PnL and pics is next step, please provide POF. Reliable property manager is available based upon referal. Performing these units should bring in $27K/mo. Let me know if you can ID a buyer that can perform. We need quick cash to close. Current cap rate is 30 at 20% OCC (performing). Strong upsides, potential at 100% OCC for 162 cap rate. Potential for lease option.We still need to review PnL for space rent OCC.
$20K finders fee, purchase price $200K
Information on Terra Haute IN, this project is under contract so np giving out address. But the buyer will need to commit and close quickly because, its going to auction unless they act this week. Sorry that we can afford the luxury of "thinking about it". Property is very close to college, Indiana University.
Property Stats: (2) 5 unit apt complex
$200K purchase price $4225 gross rents collected $1600 NOE $2625 NOI 16 cap rate $5-10K repairs-inspection report available with POF 80% OCC-current see below
926 S 6 ½ Street:
Unit Rent lease expires current/behind #1 $485 2/28/11 Current #2 $485 9/30/11 Current #3 $445 Vacant 3/1/10 #4 $485 7/30/11 Current #5 $335 7/31/10 Current
928 S 6 ½ Street:
#1 $485 9/30/10 Current #2 $485 9/30/10 Current #3 $335 8/31/10 Current #4 $350 8/31/10 Current #5 $335 Vacant since 5/17/10 I attended the Rich Dad convention in Las Vegas made it briefly on stage. We have formed the basis for Hall of Fame Learning and will be unveiling the project at the next Rich Dad conference in Orlando in Feburay. The bankable leadable houses are moving well, 2 contracts so far. If you know buyers that have only $12-$15K for down payment they can purchase properties that are fully rehabbed and rented with immediate cashflow, ROI 13-20%. These are middle class properties. I am selling these properties for $55-70K. referal fee is $3300-4200. Pics are available on longfininvestments.com go to featured properties. Rent roles lending referal and PnL statments are available on request.
I have added 5 new duplexes to the featured propeties list to longfininvestments.com these properties require rehab, so I am giving you the option to build your own equity. These properties are structually sound, require very little rehab and are in good rental areas in emerging markets. Price negotiable $20-25K.
Sales for July were very good, 2 duplexes, 2 houses and 1 condo for the month. I want to introduce Ryan Petetit, Rina Schwartz, Julia Volpe, Chi Yan Tania Salazar and Dhelma Salazar all as new members to Longfin Investments Solutions. Congrats!
Cash Buyers system- I sent out several letters and I have had very positve feedback from the people that are working this system in the first month. They are doing well in connecting with cash buyers acrosss the country. I added a squeeze page to longfininvestments.com website, let me know if you want to learn how to find cash buyers. I give referal fees to people that want encourage others to join.
I am currently looking for good solid money sources that are willing to lend on projects from $1-30MM. I am also looking for buyers from $25K-$10MM+. I can get and create the inventory we simply need to work with each other to create the best results. Come find me on Facebook, I have been posting my best opportunties on my wall.
I have been getting about 2-3 volunteers a week to help out in my office. If you want to learn more about how to become a real estate investor then let me know and I can schedule in. You will be first at knowing the best opportunties and see how I create profitable opportunties like the ones listed above.
Commercial propeties are available through my FDIC and Bank REO contacts. Let me know if you have buyers that can paper up. We can hit the target with a rifle instead of a shotgun. I am currently working on a $100MM+ tape with Prudential Realty.
Mike Woo
949-388-0678