Updated over 4 years ago on . Most recent reply
Hybrid model with creative financing
Investment Info:
Single-family residence wholesale investment in Durham.
Purchase price: $235,000
Sale price: $255,000
Took over the mortgage sub to and structured a seller carry-back for the remaining equity.
There was a tenant in the property until June of 2021 at which point the buyer planned on selling the property. Knowing this information, I negotiated the seller down another 15k by stating we could include a balloon payment at the twelve-month mark.
At the time of going under contract, the property was worth around 295k-300k, built-in 2011, and in one of the hottest areas in the Triangle.