SFR Longview, TX Wrap

[John K.]

Investment Info:

Single-family residence buy & hold investment in Longview.

Purchase price: $137,000
Cash invested: $5,500
Sale price: $169,995

This deal is set up as a wrap.
Negotiated a 10 yr note @ 5.5% with $5500 Down.
Moved buyer in 2 weeks later @ 8.99%, 12K Down for 12 Years.

Buy Numbers:
$1527 monthly, including insurance
Total Payments: $183,254.

Sold Numbers:
$2251 Monthly, including T&I
Total Payments: $324,187.

What made you interested in investing in this type of deal?

Good location
Buyer all but ready to move into it.

How did you find this deal and how did you negotiate it?

Script trigger
Always focused on owner financing. Seller tried to use brokers, but after 2 attempts gave up.

How did you finance this deal?

Owner carry

How did you add value to the deal?

Cleaned up and repaired A/C Unit

What was the outcome?

Sold to buyer on a note carry

Lessons learned? Challenges?

none

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

no