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Updated over 8 years ago,
Tired of wholesaling, looking for a private money investor
I have a 3/2, 2000 sq ft home with a 2 car carport with a separate garage/workshop. It is on an acre lot on a dead end road. Needs a max of $5,000 in minor cosmetic repairs. It's tax assessment is $75,400. I'm getting it for $32,000. I'd like to offer an opportunity get a 10% interest loan on 37k for a max of 5 years.
The investor gets first position on the deed and I pay them 10% for a max of 5 yrs.
Very easy, very simple.
Borrow : $37,000
Assessed value: $75,400
Interest rate: 10%
Payment: $308.33
Max time period: 60 months
Being a wholesaler in my city, I find more deals every month. I wanted to offer the opportunity to private investor who wants to get 8-12% return on their money. I find the properties, you have the money that isn't making money. Let's put them together.