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Updated almost 7 years ago,

User Stats

6
Posts
0
Votes
MIke Hewitt
  • Residential Real Estate Broker
  • Spring, TX
0
Votes |
6
Posts

Investor Wrap loan from Investor Loan Source for Texas property

MIke Hewitt
  • Residential Real Estate Broker
  • Spring, TX
Posted

We recently purchased our first investment property with Sherman Bridge. Paid 165K and did 35K of rehab (inc. new AC and roof). ARV is 265K. Rental income would be approx 1850 per month. We are under the impression if we sell outright we would owe IRS approx 20K in short term capital gains. We've owned the property only 3 months. Investor Loan source has a legal program where they allow the investor to owner finance (wrap) a property. The numbers appear to indicate that this would be an excellent cash flow exit strategy. Has anyone used this program or done anything like this? We appreciate all input.

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