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Jay Chekansky

@jchek779

Proud Dad - I put investor dollars to work in cash flowing affordable housing and Self Storage. 10+ years investing in SFRs and small commercial

 Charlotte, NC
appmtncapital.com
Joined December 2022
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Photo by Jay Chekansky (@jchek779)Photo by Jay Chekansky (@jchek779)Photo by Jay Chekansky (@jchek779)Photo by Jay Chekansky (@jchek779)Photo by Jay Chekansky (@jchek779)Photo by Jay Chekansky (@jchek779)
Walked into court yesterday as a defendant in a mobile home title suit. (we won) Walked out of court striking a deal with the plaintiff to buy 4.5 acres of land with seller finance. What an amazing business
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Rental Income is Passive - In the last 5 weeks across 4 houses: 2 new HVAC units Plumbing leak and wood repairs Lift pump replacement due to tenants pouring grease down drains Rental cash flow is just Cap Ex you haven't paid yet. This is why I sell homes with seller finance
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2 years with 1 STR and... - couch destroyed - weed smoked in house a lot - cigs smoked in house - ridiculous scuffs on every wall - bedroom dresser destroyed - 2x pack-n-play destroyed - high chair stolen - closet doors broken of hinges Is AirBnB just complete trash now?
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Compound Interest is life in the slow lane. Arbitrage is the 8th wonder of the world.
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We started the year off strong with another bread and butter wheel estate deal. Here is a deal breakdown on the purchase and sale numbers to show what a typical base hit looks like for us
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Sale - We sold this to an end buyer with Seller Finance for $150k. We received a $22,500 down payment and financed the rest fully amortized over 20yrs at 10%
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So we're all in at $76k for acq, rehab, closing costs, lender points. Sold at $150k We receive $22,500 down We pay our private lender $790/mo We receive $1,228/mo from our buyer for $438/mo in CF We created $54k in note equity that can be sold, traded, or borrowed against
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If you had to generate a lifetime of wealth in 2025, what would you do? Buy a business? 10x what you're doing? Massive fundamental shift? I love this question and the thoughts it provokes (and exposes)
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We put 2 deals under contract today while everyone else was doing last minute Xmas shopping. Q1 is shaping up to be fun
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I get a lot of Q's on how I structure our Seller Finance Exit deals - here is a short thread with top level info The core of our business is to create cash flowing affordable housing opportunities that create homeownership while delivering monthly income to our investors.
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Our all in costs are typically 50%-65% of our exit price. All In for $110,000 Sale Price of $200,000 Ave Down Payment - $26,000 We take back a note for $174,000
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Our Incoming PI Payment is $1527/mo Out Outgoing I/O Payment is $917 Our Investor receives $917/mo secured in 1st position on a $200,000 house (55%LTV) We receive $26,000 down payment We receive $610/mo cash flow We created $64,000 note equity
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16 months. 8ft wall. 0 screen time.
Image from Jay Chekansky (@jchek779)
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We made $89k+ on this deal. Bought for $300k with seller finance $10k down then rented at $1650 1yr later tenant moved out and we put $25k into updates. Sold it for $260k Who knows how we did it?
Image from Jay Chekansky (@jchek779)
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I just had 2 separate rental refinance appraisals come back. The first came back 0.58% off the current Zestimate The second came back at 0.12% off the current Zestimate
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