Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Creative Real Estate Financing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago,

User Stats

6
Posts
0
Votes
Steve Williams
  • Real Estate Investor
  • Columbus, OH
0
Votes |
6
Posts

My First Wraparound Mortgage

Steve Williams
  • Real Estate Investor
  • Columbus, OH
Posted

I want to sell a sfh on a wrap to another investor.  It has a $70,000 mortgage at 4.25 %.  I can sell it for $150,000 if I don't

finance it so I believe I can bump it to $155,000 or $160,000 if I sell it on a wrap.  I'm thinking 10% down, 5.25%, with a term

of 10 years (amortized over 30?).  I'm not sure about the term and how to end it.  I'm 67 and I'm doing this for income and

to defer capital gains.  I need to find a creative attorney or title company to do the closing.  The buyer would get the deed and

I'd like to find a servicing company (recommendation anyone?).  How does this sound? What else do I need to consider?  Thank you for your input and wisdom.

Loading replies...