HUD-1 collector

Everything is ROI | B.S. MechE minor Math | REI Development | Arlington VA | LFC

[HUD-1 collector @slight_steve]

Here’s a lot I found recently walking around the other day

BUILD TO RENT ANALYSIS
- Inflil lot
-6 units or 3 duplexes

Some quick pro’s

Located in Northern Arlington VA, the north side is as stable a market as they come both RE and general economic stability. Arlington is a densely populated and highly active place and infill lots basically don’t exist. Recent legislation passed to encourage more middle housing, which includes expanding zoning for multifamily. It’s Arlington, if it was on the NYSE it would be a vertical line.

Here’s a text break down with some pictures for a summary at the end.

ZONING
-Currently R5 which only allows duplexes

-Targeting RA14-26 rezone
-Lot min 7,500 sqft
-Hight max 35ft/3.5 stories
-Width min 75ft
-750 sqft min per unit
- No setbacks
-Parking not required but would like
to include 1 space per unit @
8.5ft x 18ft= 918sqft

BUILDING Units
-Over/Under units
-2,500 per duplex
-2 bed 2 bath

This analysis covers 1 duplex, multiply everything by 3 for full scope

NUMBERS

LAND VALUATION
- $1,000,000 ARV 1 duplex
- $150/sqft = $375,000 cost to build
- $40,000 closing/hold/finance @ 4%
- 20% desired sweat equity

($1,000,000 x .80) - $375,000 - $40,000 = $385,000 max cost of land per duplex.

Will use $238,000 max cost of land per duplex (using current assessment @ $716,000/3 duplexes).

SHORT TERM CONSTRUCTION FINANCING
- 75% LTC
- 3 points
- 7% rate
- Interest payment during construction

-$173,736 Equity
-$513,543 short term loan

HOLD AND RENT
- Gross income with 5.4% vacancy, $4,000 monthly rent @ 2 units = $90,816

- Opex assuming 35% = $31,785

- Refi @ 47.5% ARV @ 7% rate 30y amortization

STABILIZED
- $3,160 mortgage
- $525,000 equity
- $1,759 monthly cash flow
- $21,108 cash flow
- 12.3% Cash on Cash

STABILIZEDx3 FOR TOTAL
- $9,480 mortgage
- $1,575,000 equity
- $5,277 monthly cash flow
- $63,324 cash on cash

WEAK POINTS
-Dynamic rate environment
-Not factoring very possible contraction in rents
- Very rough construction cost estimate
-Did not include cost of rezoning, up to $80,000; you would have to purchase land at $80,000 less or be satisfied with $1,360 monthly cashflow and 8.3% cash on cash.

At the end of the day how do you decide if it’s worth building out an entire pro forma?

[HUD-1 collector @slight_steve]

@woodyVSworld @hebreworlando No brain just an empty log for a head

[HUD-1 collector @slight_steve]

@MesserBest @insje_ @TorquilMacneil @CouchNish Right, so exactly what I said

[HUD-1 collector @slight_steve]

@MesserBest @insje_ @TorquilMacneil @CouchNish That’s not true 😂. The point of the post was to diminish the skill required to play soccer. “The goal is so big”, “they play soccer every day”.

[HUD-1 collector @slight_steve]

@MesserBest @insje_ @TorquilMacneil @CouchNish Have you ever played any sport ever? They’re not aiming for the middle of the goal. They’re aiming for a specific point in the corner, +defenders, +doing it at full speed, + 1000 other things.

[HUD-1 collector @slight_steve]

@jakemalasek We all feel it tho

[HUD-1 collector @slight_steve]

@jakemalasek Everything he said is correct, but coming from a non soccer person, it doesn’t sit right because he doesn’t understand the nuance.

[HUD-1 collector @slight_steve]

@LuisCardenasMx No way 😂

[HUD-1 collector @slight_steve]

@khaliltooshort He’s insane 😂😂, this would be a comedy show if it wasn’t real

[Mod @CFCMods]

The dopamine of scrolling through Twitter after a Messi masterclass performance

[Timothy Johnson @MiamiCanes1971]

“People don’t realize $50 million is actually $0 when you’re a retard like me”

[Symoné B. Beez @SymoneBeez]

Chamath says this while wearing a $2,700 Loro Piana cashmere sweater lol

[AI (fan) @AndoniIraolaEra]

🚨BREAKING: Liverpool’s expected to bring back the orange kit to reportedly trick Gakpo into thinking every game is for the Netherlands.

[HUD-1 collector @slight_steve]

@hayasaka_aryan 😂😂

[Kreg @CringeGang_22]

This may genuinely be one of my favourite images of all time

[#WAKOFA 🇬🇭 @316simsim]

First in my bloodline to read this sentence

[HUD-1 collector @slight_steve]

another day another AI medical advancement, while being cheaper than conventional.

[Karan @karankendre]

GitHub CEO right now

[HUD-1 collector @slight_steve]

@KimKatieUSA Omg that angle 😩