All Forum Posts by: Alettia Rucker

@Nathan Gesner I’m not looking to sucker anyone. Should I drop the interest rate? I just want it to be a win win for everyone. I’m thinking that I’m leaving him equity in the home and he’s only putting down 10%. I just want to make sure the deal looks good to a note buyer so I have a good exit. 

After hearing a guru on note selling I decided to reverse engineer a deal. I have an end buyer that's a 100% Vet makes $5000 per month from benefits. He has $10,000 to put down. He's old school so he hasn't thought to establish credit and he doesn't have any other bills. I found a home to purchase for him.

ARV - $130,000

Purchase price - $79,000

Repairs - $5,000 (this light because the buyer is fine with it how it is but I want to make sure that its up to par)

Note:

Purchase price- $100,000

Downpayment - $10,000

Interest - 11%

10 years/ 120 payments

Monthly payment: 1377.36

I have a MLO lined up and a servicer

If I get a Hardmoney loan to purchase and rehab the property how soon can I get out? How long do I have to hold the note before I can sell it? Where do I find the note buyers?

Is this even the right exit strategy? Also, one other concern is the home that he likes has an above-ground pool. Will I need additional insurance for this?

Any insight would be helpful.

Thank you so much for your response, Chris. I had my consultation with them and they seem to be worth going with. 

@Chris Virgil-Stone How did it go with PCS tax services?

Thanks for the advice Joe. All very wise... like making my own post :) I thought this was the introduction spot for George. (smiles)

I'm definitely working on something here in Augusta. I've been watching and reading and taking classes for 2 years now. I think its time for some real action. :)

Hi Bigger Pockets! 

My name is Alettia Rucker. I'm a Realtor here in Augusta, GA and I'm looking hard to do my first deal and help other investors find what they are looking for. 

I've been just watching and reading in for a long time but I'm ready to take action now.

Joe we have some multi-family deals here in Augusta message me with more details of what exactly you're looking for and I can assist. 

I look forward to not being on the sidelines any longer and learning from everyone!