All Forum Posts by: Nathan Hill

Hi Darrell, 

Thanks for the response. I have the property under contract for quite a bit under $85k, which is just my wholesale sell price if another investor was interested in the deal. I am looking at an ROI of about 80% of purchase price when I close on the deal myself. The rent will not go toward the purchase price and I have a hard money loan lined up to fund 80% of my purchase so out of pocket cash is pretty minimal and I don't think I will have a problem using the lease option fee which I don't think is considered a traditional rental DP (still need an attorney to look at it all and confirm).

I followed some of your posts here on BP and came across your FB page.  Looks like you have been busy!  Good to see someone else working the more rural communities around VT/NH.  Most of the folks I have talked to so far stick to Chittenden or Franklin county.  

My main strategy is to more or less wholesale properties to cash buyers.  I have been doing some marketing but have found calling up FSBOs on CL to be the most lucrative so far.  

Nathan

Hi All,

I just wanted to introduce myself, find out where folks are buying properties, and tell you about a deal I have in the works in Addison Vermont.  I am mainly focused on building some capital through wholesaling with a long term goal of having a rental portfolio.  

Right now I have a hot deal locked up in Addison, just southwest of Vergennes on a quiet country road.  It is a 3/2 raised ranch with 3 car detached garage on 1.1 acres.  Town water, septic, oil furnace and farm land surrounding the property.  I am estimating the after repair value at about $150k and am currently selling for $83k.  It needs about $20-30k in repairs.  

Now the interesting part, I already have an exit strategy lined up for this deal :)  While I have been marketing the property I found a retail tenant/buyer who is looking to move into the property ASAP.  He is a self employed mechanic and his wife is an RN.  They are currently renting and their landlord just let them know that he is moving back into the state and they will need to move out.  They were pre-qualified for an $80k manufactured home recently and will have no problems getting a traditional mortgage on the property after repairs have been completed.  The kicker is they are willing to move into the property ASAP on a lease option with an upfront 8.5k non-refundable lease option fee and $900/month over 12 months to purchase January 2017 at $113k.  THEY WILL DO ALL THE REPAIRS AND CLEANUP TOO.  How often do you have an exit strategy on a fix and flip before you even close on the property?  Seems like a home-run and I will definitely take this one down myself if I don't have any other investors interested.  Does anyone know any cash buyers in Addison County, VT?

I would love to network and connect with some VT investors or private money lenders.  Let me know if a deal like this sounds like something you might be interested in.  I am doing some marketing in Chittenden County and have some potential deals in the works up there. 

Nathan