All Forum Posts by: Allen Herrera

The title sums my question.
I'm assuming its not the same Georgia State Purchase and Sale contract but with special clauses. I'm not sure that's why I'm asking.

For the purpose of purchasing a property via seller financing.

Any help and guidance would be greatly appreciated.

Thank you guys for your time and energy, I've known from the start it wasn't a deal but talking through scenarios helps build my pool of knowledge.

before I completely forget about this and move on let me try explaining my idea one last time.

Could some money be made if...
if a rehabber came in on this with 10k down, 283k financed by the seller (the same amount he owes the bank) so purchased at 293k

the investor puts 25k in pairs, then sells the property for 350k.

leaving 32k minus closing costs, holding costs, ect. as profit

as far as cash on cash, is this still that bad of a deal/ idea?? 40k ish cash spent for a 20k ish cash profit ~ about~ 50% return ? or am i crazy?

is someone allowed to purchase via seller financing/ agreement for sale then sell it themselves to a retail buyer????

(just realized 6% Realtor commission on 350k would destroy earnings after writing this- still gonna post to hear your thoughts)

So I have this lead who owes 283k on a vacant home thats comped with a conservative ARV of 350K. needs about 25k in cosmetic repairs (over estimating it to be safe). 4,300 sq ft, 4 bd 4.5 bath, in ground pool, hot tub, fancy stuff but some leak caused mold on the ground floor, some professional quoted him 5k to clean up.

The point is he wants 290k and the margins are too small to wholesale. naturally i think how can i get this to work via seller financing since the % equity is relatively small.

The problem is that I have not done this before and dont know if the end investor who purchases it is allowed to sell the property to a retail buyer after fixing it up and with that money pay off the seller financing from the lead i have.

Imaginary down payment numbers of 10k for the seller, 20k for the buyer.

Thoughts? Does anyone have experience with this?