Membership Required |Gold FHP Rentals Include Opportunity to Offset Rents
Ownership Low as 3% of Home! No New Loans Needed
FHP Basic comes with Ownership Rights, upgrading to Gold Offers the Opportunity to Offset 100% of Rents & Utilities
David - Owner
* Whichever is less ** After cost of debts and utilities generally
Updated October 30th 2022
Letter of Intent
(1) As a FREI HOMES LLC rep., we can offer to take-over all the current loan payments, taxes, insurances, HOA cost at the currently outstanding balances. The difference between the loan balances, and offer is the seller’s equity, and is paid in monthly payments of “principal only”, amortized over 30 years. Easy and Quick closing process than conventional process of bringing in any new monies.
Or
(2) 50% New money & 50% (principal-only) payments amortized 30 years, due in 24 months - 240 months sellers choice at a reduced purchase price. (Any new money purchases will have a reduced purchase amount)
Either items above can be for a duration of 24 months to 240 months as this will allow us to season our leases on the property for refinancing and add additional ADUs for higher gross revenues
All repairs, maintenance, up-keep and property upgrades with ADUs will be FREI HOMES LLCs responsibility as this is to be a rental property.
If you have a real desire to sell your property contact us today. I have additional methods of purchase and participation in future income if desire.
Remodeling deduction = (ASK price) or (PValue) whichever is less, minus $35 x (property living Sq Ft.) for (to get property to remodeled condition, or to be adjusted, if needed) x 88% for the final offer price.
NOTE: There are multiple methods to close a transaction. If the above or below don't work for your particular situation then send us an email with this sites contact page explaining what you need to close your property. We have access to investor funds that are looking for strong long term returns as a rental in a non traditional sense and so if the project pencils out we will make a move on it.
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Updated: October 13th 2022
FREI HOMES LLC real estate offerings: *all LTVs are subject to change and are only a guideline.
We will analyze the information about the homes Mutually Agreed Value (MAV) and the current market rents and then make 4 offers which are items 1, 2A & 2B, 3 below as examples.
1. We will pay 100% full market value (MAV) based on our own proprietary valuation methodology based on data sources from MLS and county records.
In exchange we will pay principal and interest or interest only, property taxes , property insurances and HOA fees every month for 20 years, with no prepayment penalty when we refinance. In addition we will take responsibility for the upkeep and repairs & maintenance and this includes any G-STE, R-STE, or Full ADUs we add to the property which increases values based on the additional income these add to the FHP rental property, therefore reducing risk to the owner who sells to FREI HOMES LLC. We wont pay high prices with high interest rates. Its one or the other. We can calculate the adjusted interest rate from market rents and adjusted market value of the home for determining help in figuring the monthly payment. We use 1.5% for property taxes and Insurances divided by 12 to get the PITI for your estimated monthly payment.
All FHP members start by getting on the FHP membership wait list and this non-refundable cost is applied to the FHP Upfront purchase into the FHP rental and become a owner/tenant.
or
2. (A) The Frei Homes rental program (88% of MAV) in the form of a P&I monthly payment or (B) (88% of MAV X 4% / 12 mo. = Monthly (Interest Only Payment) and we Take Over all property taxes, Insurance & repairs and maintenance of the property, converting it into what we call the Frei Homes Pro rental (FHP). The estimated Frei Homes rental P&I Payment is figured by multiplying 0.625% X the purchase price (MAV) for the estimated monthly payment. Interest only is figured as stated in explanation above.
or
3. LANDLORDS and OWNER DIYers, we can setup from beginning to end the FREI HOMES PRO rental for the owners/manager of the property.
The FHP rental can double the current market rents & increase the value. The FHP rental has upfront cost to the current owner at 12% of current value of the home. The homes enhanced value based on the new FREI NOI from the new Residents is one of many benefits of doing a FHP BASIC or GOLD rental conversion. An analysis is provided to the owners during the consultation process.
David Darby - Owner/Manager
