All Forum Posts by: Jarrett Thornton

I am purchasing two rental homes as a package and we are wrapping the note with the existing bank.

$80k Purchase Price.

10% down and the owner is holding the note on the other 10%.

Bank has agreed to refi in 90 days - 6 months with 15% - 20% down.

These are the options we will have, and I am curious to know which you would choose and why.

3 Year Fixed (4.75%-5%)

5 Year Fixed (5.25%-5.5%)

Variable: Prime 3.5(today) +1.75 = 5.25% floor

Rental Income after Taxes and Insurance: $1,178

I would love to hear your opinion on the deal itself.

Thanks!

I am purchasing two rental homes as a package and we are wrapping the note with the existing bank.

$80k Purchase Price.

10% down and the owner is holding the note on the other 10%.

Bank has agreed to refi in 90 days - 6 months with 15% - 20% down.

These are the options we will have, and I am curious to know which you would choose and why.

3 Year Fixed (4.75%-5%)

5 Year Fixed (5.25%-5.5%)

Variable: Prime 3.5(today) +1.75 = 5.25% floor

Rental Income after Taxes and Insurance: $1,178

I would love to hear your opinion on the deal itself.

Thanks!

I am purchasing two rental homes as a package and we are wrapping the note with the existing bank. 

$80k Purchase Price. 

10% down and the owner is holding the note on the other 10%.

Bank has agreed to refi in 90 days - 6 months with 15% - 20% down. 

These are the options we will have, and I am curious to know which you would choose and why. 

3 Year Fixed (4.75%-5%)

5 Year Fixed (5.25%-5.5%)

Variable: Prime 3.5(today) +1.75 = 5.25% floor 

Rental Income after Taxes and Insurance: $1,178 

I would love to hear your opinion on the deal itself. 

Thanks!

Does anyone have any experience using Interim loans to purchase properties for investment purposes? 

I have heard if you set it up properly you can get in properties with little to no money down. 

Thank you in advance, 

Thanks Paul! 

ARV: 70k

Seller has verbally agreed to terms. 

We will see if he changes his mind. 

Just submitted my first written offer for a non traditional owner finance purchase. 

Verbal Agreement until next week. 

Just curious to know how others structure their own seller finance deals. 

Property Info: 

3/1 

3k needed for rental rehab. 

Price 60k. 

I offered 45k @ 5% for 15 years. 

Payment : $355.86

Balloon is being negotiated. Preferably 5 year.

Market rent $700-$850 

No Money Down. 

Warranty deed into my name. 

Title policy in place.  

Let me know what you would do differently. 

Thanks!

Just submitted my first written offer for a non traditional owner finance purchase. 

Verbal Agreement until next week. 

Just curious to know how others structure their own seller finance deals. 

Property Info: 

3/1 

3k needed for rental rehab. 

Price 60k. 

I offered 45k @ 5% for 15 years. 

Payment : $355.86

Balloon is being negotiated. Preferably 5 year.

Market rent $700-$850 

No Money Down. 

Warranty deed into my name. 

Title policy in place.  

Let me know what you would do differently. 

Thanks!