South Bend Four Pack
			1503, 1504, 1507, 1508 Hermosa Place
			South Bend, IN 46613
			Four recently renovated houses for less than the price of one.
			Exclusively Presented By:
			Stephen Fryer
			Two Brothers Real Estate Investments LLP
			2913 Mishewaka Ave
			South Bend, Indiana 46615
			613-255-2053
			a2zstephen.fryer@gmail.com
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BUYER MARKETING SHEET (HOLD)

South Bend Four Pack

Property Address:

Presented by: 1503, 1504, 1507, 1508 Hermosa Place

Property City, State, ZIP:

Stephen Fryer South Bend, IN 46613

Bedrooms: 2  Baths: 1  Sq.Feet: 700  Built: 1923

Two Brothers Real Estate Investments LLP

4 houses for less than the price of 1 Notes:

613-255-2053

a2zstephen.fryer@gmail.com

Four cute little two bed, 1 bath houses. Three are presently leased at $500 to Section 8 tenants. All have been recently renovated One tenant was recently evicted so a clean up is required.. Project Description:

PURCHASE/CONSTRUCTION ASSUMPTIONS

% of ABV

As-Built Value (ABV)

160,000.00

Purchase Price (Offer Price)

80,000.00

50%

Construction Costs

1,000.00

1%

1,600.00 Total Closing and Holding Costs

1%

Total Financing Costs

-

0%

Total Project Cost Basis

82,600.00

52%

Total Amount Financed

-

Total Cash Committed

82,600.00

PROJECTED RESULTS

Projected Monthly Rent (net of vacancy) 1,940.00

Projected Monthly Expenses

1,054.00

Projected Monthly Net Operating Income 886.00

Cap Rate Based on Cost Basis

12.9%

Sweat Equity at End of Rehab

77,400.00

Cap Rate Based on ABV

6.6%

Monthly Cash Flow (before-tax)

886.00

1 Month   Assumed Time to Complete Construction

Cash-on-Cash Return (before-tax)

12.9%

Assumed Time to Lease Up

1 Month

2 Months Total Time between Acquisition and Lease-up

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	CASH FLOW SUMMARY (HOLD)
		South Bend Four Pack					Stephen Fryer
		1503, 1504, 1507, 1508 Hermosa Place					Two Brothers Real Estate Investments LLP
		South Bend, IN 46613					613-255-2053
	Month		0	1	2	3		4	5	6	7	8
	Purchase		(80,000)
	Closing Costs		(1,600)
	Orig/Disc Points and Loan Closing Costs
	Holding Costs
	Construction Draws/Expenses		(1,000)
	Interest (Paid or Accrued)			0	0
	Total Cash Spent in Period		(82,600)	0	0
	Cumulative Financed		0	0	0
	Cumulative Cost Basis		(82,600)	(82,600)	(82,600)
	Profit to Investor at Refi
	Cash Tied up in Deal				82,600
	Equity Left in Deal				160,000
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CASH FLOW TO LENDER (HOLD)

Stephen Fryer

1503, 1504, 1507, 1508 Hermosa Place

Two Brothers Real Estate Investments LLP

South Bend, IN 46613

613-255-2053

Total Interest Income:

-

Interest Rate Offered to Lender:

0.00%

Total Amount Funded By Lender:

0

Total:

-

0 Total Loan Amount (inc deferred):

Cash-on-Cash Return (annual):

IRR (annualized):

Month

0

1

2

3

4

5

6

7

8

Purchase

0

Purchase Closing Costs Funded

Holding Costs Funded

Construction Draws

Interest on Loan (Paid)

Interest on Loan (Deferred)

Interest on Draws (Paid)

Interest on Draws (Deferred)

Total Loan Balance

Payback of the Loan

0

Cashflows Out

Cashflows In

Net

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COMPARABLE SALES REPORT

Property Address:

Presented by: 1503, 1504, 1507, 1508 Hermosa Place

Property City, State, ZIP:

Stephen Fryer South Bend, IN 46613

Bedrooms: 2  Baths: 1  Sq.Feet: 700  Built: 1923

Two Brothers Real Estate Investments LLP

Notes:

613-255-2053

a2zstephen.fryer@gmail.com

Property Address Beds Baths SqFt

Sold

Built

Price

$/SqFt

Dist

Notes

1.

1011 Clover St South Bend, IN 46615

2

1

760

11/25/18

48,646 64

Full rehab for retail

2.

1211 Emerson Ave South Bend, IN 46615

3

1

984

08/18/19

48,000 49

Clean but dated

3.

1435 E Bowman St South Bend, IN 46613

2

1

772

04/02/18

50,500 65

Well maintained, but dated

Average

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