dobson street Property - burleson, TX 76028
Business Proposal
REI Consultants, LLC is Seeking a Business Partner for Capital in the Amount of $330,000, Secured by the First Lien on the Property with the Following Terms:
- 12% APR, Balloon Payment of $369,600 within 12 Months, PrePayment Penalty Applies to All 12 Months of Interest - $39,600 Profit, Secured by First Lien, and Insured with Business Partner Listed as Additional Insured on Insurance Policy.
- All Financial Transactions occur at the Title Company.
Property Details
This Property contains 3 Improvements on 1.007 Acres in Burleson, TX 76028. The following are the property details and the improvements:
- Improvement One - 2 Bedrooms, 2 Bathrooms, 1,408Sq.Ft, Built in 1976
- Improvement Two - 2 Bedrooms, 1 Bathroom, 760Sq.Ft, Built in 1976
- Improvement Three - Detached Garage: 40' by 40', 1,600Sq.Ft, Built in 2007
- Lot: 43,865Sq.Ft. and/or 1.007 Acres - Backs up to Village Creek
Acquisition Costs
This Property will require $185,000 in acquisition costs, which is 0.37% of the Property Value after the property is improved = $498,500
Improvement Costs
This Property will Require a Complete Renovation on 2 Improvements, and Exterior/Interior Finish on One Improvement to include the following:
- Improvement One: Foundation, Roofing, Windows, Mechanical, Electrical, Plumbing, Flooring, Kitchen, Bath, Insulation, Sheetrock, Paint, Cabinets, Countertops, Flooring, Exterior Fence = $77,440 at $55/Sq.Ft.
- Improvement Two: Foundation, Roofing, Windows, Mechanical, Electrical, Plumbing, Flooring, Kitchen, Bath, Insulation, Sheetrock, Paint, Cabinets, Countertops, Flooring = $30,400 at $40/Sq.Ft.
- Improvement Three: Exterior Siding, Interior Finish - Insulation and Sheetrock = $35,200 at $22/Sq.Ft.
Total Improvement Costs: $143,040
Acquisition, Improvement and Closing Costs
Acquisition Cost of $185,000; plus,
Improvement Costs of $143,040; plus,
Carrying Costs and Closing Costs on the Exit Side totaling $17,500, plus
Project Cost of $345,540, or 69% of the Property Value after the property is improved = $498,500
The Numbers
Acquisition Costs = $185,000, plus,
Improvement Costs $143,040, plus,
Carrying Costs and Closing Costs on the Exit Side $17,500, plus,
Business Partner Fees $39,600
Total Costs of this Property will be $385,140, which is 0.77% of the Sale's Price = $498,500.