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Author Topic: RentalStarter - A Midwest Real Estate Investment Company  (Read 119037 times)
Branny
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February 19, 2014, 10:17:44 PM
 #261

Inspection went well on the duplex + house. We have submitted a bid, APY looks very good IMO.

S Church offer came back at $500 below asking......Not too happy about that. However in the mean time we located another good candidate which we will be bidding on in the near future after I can get some contractor rehabs. It will be in the ~13% APY range, but appreciation will be fantastic.
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Branny
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February 20, 2014, 09:11:01 PM
 #262

According to the listing agent we have preliminary acceptance on our offer at the multi-family property.



Asking price -  $74,900
Our offer price - $67,000
Discount off asking - 10.5%

Current income - $1050/mo
Income at full occupancy - $1400/mo

Simple cash-on-cash return 25%

Monthly expenses -

$115/mo Taxes
$75/mo Insurance
$200/mo repair escrow
$25/mo Trash service (Landlord paid)

Effective net monthly income - $985 | 17.6%APY

This assumes no rehab. We may opt to put some work into the small house which would be no more than say <$3,000.

The best part is that we are locked into pro-rated rents, so when the property closes there will be an additional disbursement of funds to investors. March div payment at current estimate would be more than double what it was for February.
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February 20, 2014, 09:16:07 PM
 #263

good updates men

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February 21, 2014, 01:19:11 AM
 #264

Given the high volatility of the BTC price I would advise not taking any risks and converting funds to fiat as they come in. After all this is a fiat business where Bitcoin is merely the investment vehicle.

Which by the way, makes me think of a nice feature to have on Havelock: the possibility of emitting shares in fiat and auto-adjusting share price in BTC.

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Peter Lambert
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February 21, 2014, 02:27:49 AM
 #265

Given the high volatility of the BTC price I would advise not taking any risks and converting funds to fiat as they come in. After all this is a fiat business where Bitcoin is merely the investment vehicle.

Which by the way, makes me think of a nice feature to have on Havelock: the possibility of emitting shares in fiat and auto-adjusting share price in BTC.

Bitcoin price is in a temporary slump due to the MtGox fiasco, I would advise holding onto the bitcoins and waiting for the price to go back up before selling.

How would you emit shares on havelock in fiat? Havelock does not hold fiat, they hold bitcoins. And if a business is truly fiat based, then the market price for the shares should follow the changes in the fiat price, there is no auto-adjusting necessary.

Use CoinBR to trade bitcoin stocks: CoinBR.com

The best place for betting with bitcoin: BitBet.us
Branny
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February 21, 2014, 04:45:17 AM
 #266

Given the high volatility of the BTC price I would advise not taking any risks and converting funds to fiat as they come in. After all this is a fiat business where Bitcoin is merely the investment vehicle.

Which by the way, makes me think of a nice feature to have on Havelock: the possibility of emitting shares in fiat and auto-adjusting share price in BTC.

Bitcoin price is in a temporary slump due to the MtGox fiasco, I would advise holding onto the bitcoins and waiting for the price to go back up before selling.

How would you emit shares on havelock in fiat? Havelock does not hold fiat, they hold bitcoins. And if a business is truly fiat based, then the market price for the shares should follow the changes in the fiat price, there is no auto-adjusting necessary.

As it stands now we took a 'draw' from HL of 70btc in order to hold till we found a property. We cashed out 10 of those at an average of about $680 per btc. It was my feeling, along with shareholders I've talked to that it would be wisest to wait till price recovery.

The outstanding issue could be as to how long price recovery takes. We have 2 weeks to fund the new property. CB price is around $560 right now which would put the remaining 60btc at $560 that would be another $33600 in fiat we can cash out from what we have in-wallet (Plus ~$26,000 or so we already have in fiat) which puts us at - Nearly $60,000.

We will likely have to take a 2nd 'draw' on our HL wallet, but it won't have to be for a significant amount.

E Mill street also looks good , we will be placing a bid on it shortly.
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February 21, 2014, 11:45:01 PM
 #267

Given the high volatility of the BTC price I would advise not taking any risks and converting funds to fiat as they come in. After all this is a fiat business where Bitcoin is merely the investment vehicle.

Which by the way, makes me think of a nice feature to have on Havelock: the possibility of emitting shares in fiat and auto-adjusting share price in BTC.

Bitcoin price is in a temporary slump due to the MtGox fiasco, I would advise holding onto the bitcoins and waiting for the price to go back up before selling.

How would you emit shares on havelock in fiat? Havelock does not hold fiat, they hold bitcoins. And if a business is truly fiat based, then the market price for the shares should follow the changes in the fiat price, there is no auto-adjusting necessary.

You are probably right but nothing is certain in BTC world. I don't think it's a good idea to speculate with the price as it's not the business of this company. When I mentioned fiat-based shares what i meant is that the BTC value of a share at the IPO could self-adjust to a certain value in $. Of course, once the stock starts trading this is impossible,  but this way if the business plan requires 1 million $, this amount will be available after the IPO independently of bitcoin's valuation.

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Branny
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February 22, 2014, 01:46:04 AM
 #268

Given the high volatility of the BTC price I would advise not taking any risks and converting funds to fiat as they come in. After all this is a fiat business where Bitcoin is merely the investment vehicle.

Which by the way, makes me think of a nice feature to have on Havelock: the possibility of emitting shares in fiat and auto-adjusting share price in BTC.

Bitcoin price is in a temporary slump due to the MtGox fiasco, I would advise holding onto the bitcoins and waiting for the price to go back up before selling.

How would you emit shares on havelock in fiat? Havelock does not hold fiat, they hold bitcoins. And if a business is truly fiat based, then the market price for the shares should follow the changes in the fiat price, there is no auto-adjusting necessary.

You are probably right but nothing is certain in BTC world. I don't think it's a good idea to speculate with the price as it's not the business of this company. When I mentioned fiat-based shares what i meant is that the BTC value of a share at the IPO could self-adjust to a certain value in $. Of course, once the stock starts trading this is impossible,  but this way if the business plan requires 1 million $, this amount will be available after the IPO independently of bitcoin's valuation.

It would be nice to auto-cashout but HL doesn't have that option. As it stands now I have to run everything through HL to get approved for disbursements so there's a pretty significant lag on our end from the time a guy buys a share to the time that BTC is sitting in our wallet to liquidate to USD.

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February 22, 2014, 10:50:22 PM
 #269

I think we won a property auction today. It requires seller confirmation but the agent is acting like everything will go through.

SFD

2-3br 1.5ba
Built around 1900
2 stories
Good neighborhood (Better than any other property we have)
~1250 square feet

$27.5k purchase price
<$10k rehab cost
$700/mo rental income
$80k-$100k FMV after rehab.

$65/mo insurance cost
$75/mo rehab escrow
$85/mo in taxes

$475/mo free cashflow
15.2% net cashflow after rehab costs.
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February 23, 2014, 03:38:46 AM
 #270

nice going, please keep as updated Smiley
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February 23, 2014, 12:53:47 PM
 #271

Branny, Will the shares be tradable after the IPO?

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February 23, 2014, 03:58:18 PM
 #272

Was the dividend on 2014-02-15 only for havelock? I have direct shares and did not receive anything.

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February 23, 2014, 11:51:18 PM
 #273

Branny, Will the shares be tradable after the IPO?

Yes.

Was the dividend on 2014-02-15 only for havelock? I have direct shares and did not receive anything.

We suspended the direct dividend for a short period as the stock transitions to HL, we'll start up direct dividends shortly.
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February 24, 2014, 10:21:12 PM
 #274

is there a return investment option? idc about dividends id rather see the value of stock gradually increase

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February 24, 2014, 10:41:24 PM
 #275

is there a return investment option? idc about dividends id rather see the value of stock gradually increase

You could buy new shares with each dividend you receive?

Use CoinBR to trade bitcoin stocks: CoinBR.com

The best place for betting with bitcoin: BitBet.us
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February 24, 2014, 11:57:12 PM
 #276

is there a return investment option? idc about dividends id rather see the value of stock gradually increase

You could buy new shares with each dividend you receive?
the dividend is too small especially for minor holders like me

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Branny
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February 25, 2014, 02:08:32 AM
 #277

is there a return investment option? idc about dividends id rather see the value of stock gradually increase

You could buy new shares with each dividend you receive?
the dividend is too small especially for minor holders like me

Bitfunder had the option for shareholders to elect re-investment, however HL does not have that option, you'd have to go into your account and buy more shares when you get your divs.
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February 25, 2014, 09:14:25 PM
 #278

Really liking this investment. The properties they chose and the frequent updates by OP are great.
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February 25, 2014, 11:55:04 PM
 #279

Really liking this investment. The properties they chose and the frequent updates by OP are great.

+1

Combination of transparency and hussle. I've bought some shares, considering buying more.
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February 26, 2014, 01:56:29 AM
 #280

Really liking this investment. The properties they chose and the frequent updates by OP are great.

Let's just hope that it continues.
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