Selling low cash flowing properties using a wrap. Any advice?

[Sunil Kapoor]

Hi All,

I have a few SFH's which don't cash flow so much, but I have a great 30 year fixed loan with a low rate on them. I'd like to increase my cash flow and one thought is selling them on a wrap.

My current P&I payment is $280/month with 25 years left on my mortgage.

If I do a wrap at 30 years, 7% the P&I payment would be around 980, giving me $700/month of cash flow and no other costs.

Sounds simple, but the devil is in the details. Has anyone done this, or have any advice?

Thanks!!