503 W 22nd Street, Trenton, MO 64683
CLICK LINK FOR PHOTOS & REHAB PLAN
https://drive.google.com/drive/folders/14j4QBAfcsOvHEAkXPlpiD-H5xAb7KokF?usp=sharing
- Purchase Price: $25,000
- Proposed Disposition Budget: $87,000
- Proposed Completion Date: October 31st, 2022
- As Built Appraisal: TBD (est.) – $160,000
- Selling Price Estimate: $160,000
- Anticipated ROI (Annualized): 50%
Financing Plan
Obtain an as-built appraisal, and then obtain a construction loan. Profit-sharing distribution (the sales price of the project minus the actual cost of the project) will be based on fixed percentages of capital placed at risk and allocated as follows:
Funder to provide credit for the construction loan in return for 3 points (3%) of the amount of the construction loan, as well as initial cash to purchase and close on the property. The loan will be an acquisition and construction loan, so the amount advanced will be returned to the investor upon closing the loan. All investor profit-sharing will be based on a formula designed to give them a 50% annualized return based on amounts placed at risk in the project.
The Property
This home was burned in Dec 2021. The cause of the fire is suspected to be human caused, as opposed to electrical, or other natural cause. About 80% of the standing home was saved from the fire. However, due to the home’s age and general condition, the home should be considered a complete rebuild and expansion (new construction).
Plans to rebuild include:
- Redesign home based on the following key items below;
- Clean up burn debris, tear out lath, and plaster back to studs on existing home;
- Remove existing front porch;
- Excavate existing basement, and expand garage slab to the existing foundation to North-end of existing foundation;
- New-built construction to include, a new garage, new living space over the garage, and new living space North of the old garage;
- The current floor plan includes 3 bedrooms and 2 baths. New floor plan to add 2 bedrooms, a third bath, additional kitchen space, pantry, and utility/mud room.
- The current lot is approximately .25 acres and will provide a nice space for this enhanced home in a well-established neighborhood.
Interested?
Please schedule a call with our team ASAP to discuss acquiring this deal. Our deals usually go pretty quick, so please schedule with us now if you’re interested.
Book a call with me at -> https://hybridrealestateinvesting.com/call
