All Forum Posts by: David Melton

The east side of smoketown has already seem some flips selling for seemingly high prices. I expect this trend will spread but it pays to stay near the parts already seeing this uptick.

What your describing is called wrap around financing. Most commonly a wrap is done when someone buys a property with financing (usually from a traditional lender) then sells it to a second party for more money, higher interest, etc. most likely on an unrecorded contract for deed. What you are proposing is to sell a turn key rental as a wrap. I would think most people looking to buy a turnkey rental would want a deed but I've been party to properties sold to other landlords on C4D with wrap financing, just never turnkey. Retail buyers whom could not get conventional financing were our primary customer base.

If you intend to make it a principal residence why not go with bank finance? 

Adding livable square footage may not return the square foot rate you expect. This is very much a case by case situation.

A 2 br is always a tough sell, what part of town is it in? In Germantown for instance a 2 br 2 ba will bring nearly twice what you are asking. But in Okalona a 3br 1ba would bring. Unless you have a house that just isn't turn key or overlooked some major issue it should sell in this market.

New here, I've owned rental property for over 20 years.