Two Lease Back Properties available for purchase. Tenants already in place! Indianapolis real estate asset play.
Something I have been working on the past 4-5 days, and something that I feel would be a great investment for the capital rich real estate investor. Note, you will need between $40k-$50k down for this, but the payoff will be generous over the next 3-5 years. At time of this post, you will need 10% down for non-owner occupied for well qualified investors. Note again, this is for VERY QUALIFIED INVESTORS!
Details on property one:
Watkins - Stratton Model by M/I Homes. Available for lease back to M/I homes.
Watkins / Stratton Model is available for $479,990 - lease term is $4,389 per month for (1) 6 month lease, with (15) 3 month extensions. 2% earnest money required at time of contract. $1,550 in buyer/seller closing cost plus 1% with the use of M/I Financial only. Located in Lawrence Community opened in July 2007 75 total home sites estimate of 3 years until close out at a pace of 2 homes per month
Photos of home are available online here
Now Look at the numbers:
Purchase price: $479,990
Down Payment: $47,999
Monthly payments at 7% for 30 year note: $2,874. Taxes: $700/month. Insurance: $100/month
Cash flow of $600/month plus depreciation expense of $5,900/year(based on 27.5 year amortization in 33% tax bracket). = $600+ $489/month in tax savings = 1,089/month in cash flow before interest savings.
Property goes up in value at a conservative 4%/year. 4% after first year is $19,200 increase in value. Principal pay down is $300/month. Add on the $1,089/month listed above.
CASH ON CASH RETURN comes out to be $35,868/$47,999 =
75% cash on cash return. WOW
I’m not even including your savings from interest deductions.
UPDATE: THIS HOME WAS SOLD BEFORE I WAS ABLE TO GET THIS LISTED AND SENT OUT TO MY OTHER INVESTORS.
An investor or ours found the photos I had placed under "specials", called me up, and locked in this deal already.
Details on property two(STILL AVAILABLE)
Carmel - Broderick Model MI Homes
Broderick model is available for $376,000 - lease term is $3,011 per month for (1) 6 month lease, with (15) 3 month extensions. 2% earnest money required at time of contract. $1,550 in buyer/seller closing cost plus 1% with the use of M/I Financial only. Model is located at Heather Knoll - located just West of Towne Rd on 141st st. Community entrance is on the north side of 141st St. Community is about 3 years old, will have a total of 151 homes when complete. Completion is estimated to be in 3 years…or more. We have 42 moved in homeowners. Of the 151 total, we have 50 home sites to be developed late fall 2008 / early spring 2009.
Photos of home are available here:
Now Look at the numbers:
Purchase price: $376,000
Down Payment: $37,600
Monthly payments at 7% for 30 year note: $2,251. Taxes: $600/month. Insurance: $80/month
Cash flow of $80/month plus depreciation expense of $4,512/year(based on 27.5 year amortization in 33% tax bracket). = $80+ $376/month in tax savings = 456/month in cash flow before interest savings.
Property goes up in value at a conservative 4%/year. 4% after first year is $15,040 increase in value. Principal pay down is $260/month. Add on the $456/month listed above.
CASH ON CASH RETURN comes out to be $23,632/$37,600 =
63% cash on cash return. WOW
I’m not even including your savings from interest deductions.
ALSO, we throw in one year of management for FREE when you purchase a new home through us. When we mean one year FREE here, we mean one year FREE AFTER the lease back expires, not during the lease back, as there is really no management to be done while this is under a lease back scenario.
Contact Craig at 317-490-5074 or Derek at 317-796-9825 for additional information. Also via email at info@MyIndianapolisHome.com or at our office at 317-839-8786
What a change at Anson Zionsville and Anson Whitestown IN
As your local Zionsville Anson real estate expert, I wanted to share with you some updated photos of the development in Anson.
First, take a look at this stunning new condo built by Ryland located right in the heart of the new Anson development. 6320 Central Blvd We rented this out in about 2 weeks, and it cash flows from day one!
Some new photos of Anson Whitestown IN
Good progress has been made on the new condo’s and upscale apartments that are currently leasing and selling. Notice the nice landscaping going in throughout. Also, DC’s Pub has finally opened! This is a hot PUD, every Friday and Saturday night the entire parking lot is packed full of cars. El Rodeo has also opened up over the past few months. This is a great place to buy a real estate investment to hold long term. Royal Run would be the best bet on a development to start investing in, it will get you in lower in price then anywhere else near the Anson development. I of course put my $$$ where my mouth is, and own and rent out a ranch in the Anson development and Royal Run.
May real estate newsletter available
Here is a link to the Crager-Bartels Real Estate "May Real Estate Update":
http://realtytimes.com/114/CragerBartels
This Newsletter is full of interesting and useful information that I think you will enjoy whether you are a buyer, seller, homeowner, or renter.
This month’s issue includes topics such as:
"First Time Buyers’ Dos And Don’ts";
"Taking The Real Estate Investment Plunge";
"Tax Rebate Uses For Buyers";
"Review The Landscape Before You Buy Or Sell";
"Housing Bills Will Help Homeowners And Economy";
Plus a roundup of April real estate activity as well as much more advice and information.
I hope you enjoy this monthly newsletter. If you have any comments, please e-mail them to me.
Coming Early Next Week - Pike Home signs up for our unique marketing program
I met with another owner today that has decided that the real estate triple play is the best way to get their home sold or rented fast. More photos will be available early next week. Starting price will be $170,000 for this 4 bedroom 2 1/2 bath home with a huge 1/2 acre wood lot.
7408 Buttonbush Drive, near Eagle Creek.
Do you own a home in Zionsville or the Anson Zionsville area that you are having trouble selling? Check out more information about our unique marketing approach at RealEstateTriplePlay.com
April 2008 newsletter from Crager-Bartels Real Estate
Here is a link to my "April Real Estate Update":
http://realtytimes.com/113/CragerBartels
This Newsletter is full of interesting and useful information that I think you will enjoy whether you are a buyer, seller, homeowner, or renter.
This month’s issue includes topics such as:
"What Does The Economic Stimulus Package Mean To You?";
"Is Your Credit Score as High as You Think?";
"Appealing Your Property Tax Bill";
"Location Can Dictate Maintenance Chores";
"Buying Bonds and the Mortgage Market";
Plus a roundup of March real estate activity as well as much more advice and information.
I hope you enjoy this monthly newsletter. If you have any comments, please e-mail them to me. Or, if you would like to see a certain topic covered in future months, let me know that too!
If you do not wish to receive this Newsletter each month, please reply to this e-mail with the word ‘REMOVE’ in the subject line.
Sincerely,
Craig Bartels & Derek Crager
3 bedroom home for sale in the Indianapolis area
Amazing 3 Bedroom Home
838 Chapel Hill Dr, Indianapolis, IN 46214 View Map
This amazing brick ranch has been extremely well cared for. This updated home has a living room and an extra large family room with attractive fireplace, lots of windows, shelves and more. Nice hardwood floors under carpet in living room, hall and master bedroom. Extra large dining room opens to kitchen and family room makes for a great place to entertain. Large wood deck. 3 season sun room that you will love! Nice landscaping.
Details
Property Amenities
- - Fireplace
- Patio
- Fenced Yard
- - Walk-in closet
- Family room
- - Living room
- Dining Room
Stunning home for sale in Indianapolis
5 bedroom victorian home for rent in Indianapolis
Victorian 5 Bedroom Home!
2130 N. Delaware St, Indianapolis, IN 46202 View Map
Details
Property Amenities
- - Sink Disposal
- Fireplace
- Hardwood floors
- Vaulted Ceilings
- - Basement
- Yard
- Walk-in closet
- - Family room
- Living room
- Dining Room
Weekly Investor Special Alert from Crager-Bartels Real Estate
We just received a call from one of our local new
home contacts. Recent negotiations with one of our favorite
builders results in $58,000 savings to you as a member of our VIP buyers club.
Through our negotiations, we are now able to get you
this home for $144k, originally priced at $202k but buyers
financing fell through.
Over 50 high quality photos of property
New Home 3BR 2.5BA 3CAR, 2300′ Buyer Previously
purchased at $202,000 but purchase fell through when buyer was not
able to sell her business as planned. Tons of options. 9′ ceilings.
20′ Vaulted ceilings in Kitchen and Living room. Formal Dining
room. More closets than I’ve ever seen at one location. Screened in
porch PLUS additional patio behind home. Lighting is fantastic with
bright rooms throughout the home. Call Derek or Craig now before
someone else gets this beauty located in Noblesville / Westfield
area.
As is always the case with our negotiated pricing, this
property
will not last long. Our last set of 12 investor special homes were
sold
in less then 48 hours to our investor list. ACT NOW.
BONUS TO YOU: As always,
we throw in one year of property management at no cost to you, a
value of $1,500-$4,000. Crager-Bartels manages over $35 million in
real estate in the Indianapolis area, we know how to take care of
investor needs.
Contact us immediately at 317-796-9825 or 317-490-5074 or at
info@indyhomespecials.com to reserve
this property
Crager-Bartels Real Estate
www.IndyHomeSpecials.com
www.MyIndianapolisHome.com
All 3 homes sold in 24 hours
We had a huge demand for these specially discounted homes from KB. We ended up with 5 homes and all 5 homes sold within 24 hours.
Stay tuned for additional cash flowing investment properties over the next 4-8 weeks.