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Investor Topics
MY TRACK RECORD:
1. 615 Vassar NE: buy $113K, $35K add-on, sold $225K, profit $52K (ROI=35%)
2. 1001 Richmond SE: buy $135K, $18K fix-up, sold $230K, profit $54K (ROI=35%)
3. 3922 Smith SE: buy $125K, $13K fix-up, sold $185K, profit $29K (ROI=21%)
4. 4020 Smith SW: buy $150K, $35K fix-up, sold $235K, profit $27K (ROI=15%)
5. 435 Ash NE: buy $150, $55K fix-up, sell $218K, loss $8K (Loss=4%)
6. 3901 Arlote SE: buy $118K. $10K fix-up, sell $185K, profit $32K (ROI=25%)
7. 214 Cutler NW: buy $73K, $38K fix-up, sell $143K, profit $32K (ROI=29%)
8. 1650 Griegos NW: buy $174K, $10K fix-up, sell $245K, profit $40K (ROI=21%)
9. 2324 14th St SE (Rio Rancho): buy $480K, $0 fix-up, sell $527.5K, profit $22K (ROI=160%)
10. 1508 San Carlos SW: buy $308K, $55K fix-up; sell $440K, profit $39.6K (ROI=69%)
11. 2206 Camino de los Artesanos NW: buy $235K, fix-up $35K; sell $350K; profit $55K (ROI=147%)
12. 1407 15th Street NW: buy $100K, fix-up $20K; sell $148K; profit $15K (ROI=57%)
13. 1018 Bernalillo SE (Four Hills), buy $330K, fix-up $25K; sell $380K; loss $7K (Loss=8%)
14. 6000 Zimmerman NE (Uptown), buy $139K, fix-up $42K, sell $232K, profit $39K (ROI=67%)
15. 1623 La Vega SW (South Valley), buy $64K, fix-up $43k, sell $140K, profit $21K (ROI=20%)
My Profit Formula
Net profit = Sales price minus closing costs minus fix-up cost minus acquisition cost (purchase price plus buy-side closing costs) minus cost of money or holding costs.
Finance Pre-Approval: The Critical First Step Toward Building Your Wealth
If you're buying a bargain fixer-upper to live in, getting a loan is still very easy to do, and I know several lenders who can help you on this path.
As an investor, you have basically five options for purchasing and remodeling projects: (1) Use cash for the purchase and fix-up, (2) Obtain a loan for the purchase and use cash for the fix-up, (3) Obtain a construction loan for the purchase and fix-up (preferred), (4) Use a private money source or "hard-money" lender, and (5) form a partnership.
When buying apartments, you have a few more creative options. All sellers, though, especially apartment and light commercial sellers, want to see a loan pre-approval letter or statement of cash on hand to proceed with any transaction, so it makes a lot of sense to have this ready before we do any looking or offering. But most apartment sellers will work with you on seller financing for all or part of the purchase price, so your cash outlay can be less. Call me for details.
Pre-Approval is easy and rarely takes more than 24 hours. Please have your favorite lender email this to me. Need some suggestions for investor lenders? Our investment team uses several lenders and brokers for "regular" residential loans, construction loans and commercial loans.
Call or email me:
Jeff Poston, Realtor
The Poston Company LLC
(505) 228-8828 M-F 9:00-5:00
RE-201: Video Training Series
Not too basic, not too advanced
Get this video training course delivered to your Inbox, covering critical topics important to rehab and apartment investors, such as:
1. The difference in the process of buying an apartment and a rehab house project
2. The profit formula for rehab projects
3. The difference between a rehab and a remodel
4. The one mistake that prevents most rehab investors from making profit
5. How to negotiate and how NOT to...and much more
And, yep, it's all FREE too!
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Now check out all the FREE information on this website, and watch this short video to learn a bit about me and the Albuquerque foreclosure and real estate investment market.
FREE Real Estate Investor Info
Here's what they're saying about Jeff Poston
"Jeff came up with some very creative negotiations to keep more money in my pocket after inspections were finalized. [He] stayed in constant contact with me throughout the purchase and sale process keeping me informed of all activity on the property. [He also] introduced me to a contractor over a year ago who I have since used on most of my projects including work on my own home." -- Steve K., Investor
"After looking at a dizzying array of homes on our own, Jeffrey took careful note of our search criteria and introduced my wife and I to place that we love out near the Westside. On his advice, we even ended up getting the home for $5,000 less than the initial asking price. Mr. Poston will definitely be whom we come to first for any future real estate needs." -- Ron N., Home Buyer
"I am impressed that you are such a good listener, very accommodating as we go through the learning curve, very knowledgeable and NEVER pushy. Are you sure you are a Realtor? Clearly you are confident in your business and are eager to share in order to promote success for others." -- Carol T., Architect
"You're awesome! I love working a deal with you and look forward to new business." -- Daniel M., Realtor
"It has been a pleasure to work with you on a number of transactions. From a mortgage persons point of view, it is a breath of fresh air to be able to deal with a Realtor of your caliber. Your level of follow up and attention to details makes my job that much easier. I also feel you share the same high level of respect and honesty for all your clients as I do. They always tell me how much they love you! I look forward to working with you in the future again." -- Mauricio P, Mortgage Broker
"I am very happy when Jeff Poston of the Poston Company LLC is representing either the buyer or a seller in a real estate transaction. Jeff consistently provides me with the information essential to the preliminary title work and ultimately the successful closing of his transaction. Jeff is a true professional in the real estate industry." Judy L., Escrow Title Officer
Here's my performance guarantee: If you buy a flip rehab project based on my analysis and I'm your buyer's broker, and if you relist with me but don't make profit on the resale, then you can have as much of my resale commission as is necessary to make sure you don't lose money, if you stick to the rehab budget I establish for the project. (Does not include cost of money which varies widely among investors).
