All Forum Posts by: Jason Rawlings

I use Propelio.  They keep adding more services.  Also included in the price in 5000 per day (not month) lead lists in most US counties including vacant, preforeclosure, absentee, out of state, etc.  I also get unlimited Wordpress webistes structured similarly to big well-known sites.  Very easy to customize.  Plus, as a subscriber, I get free SEO training.

Yes, I will be happy to email you some interior photos.  If anyone else needs interior photos, text me at 417-438-2703 and I will text the photos to you.

The sales price is $28k and is sold Subject To current loan.   Text me at 417-438-2703 and we can discuss further and I can send you interior photos.

Newly remodeled 4 Bedroom. 2.5 Bath house with $660 monthly cash flow.  Extra large master bedroom and bathroom.  New paint, flooring, appliances, fixtures, faucets, and garage door.   

Property is being sold Subject To current financing for $28,000. The monthly loan payment is $1233. Tenant in place with monthly rent of $1895. $660 monthly cash flow and 28% ROI if you manage yourself, or 24% if you use current management group.

There is low equity in the property after purchase, hence the Subject To.   The loans are set up to enjoy 27 years of high cash flow.  The equity should build fast with DFW appreciation and loan pay down.

Serious inquiries only.  I will text more photos to serious buyers.

Contact Jason

text= 417-438-2703

email= [email protected]

@Bill Gulley.  Thank you for the insight Bill.   I am not looking for the "get rich quick" or "no money needed" style of  real estate.   I have had rental properties and rehab-flips the past 3 years and know the processes and contracts for these types of deals.   Doing my own direct marketing, I have been coming across a few low equity deals that just don't make sense with my current strategies.   I began to think about the subject to process, but I wanted to make sure I did everything correctly.   I was looking for some education to make sure I knew as much as I could about the process and contracts, but I also know that I will have to get everything approved by my real estate attorney.

Who would everyone recommend as an expert in Subject To training whether by podcast, blogs, website or minimally priced training?  I am looking for comprehensive training from one source.

Multi-family would be a good investment with that amount of start up.  Loopnet is a decent place to look for properties. 

They are a little more expensive in the DFW area.  I did find this one in Wichita Falls. 

http://www.loopnet.com/Listing/19424370/1201-Austin-St-Wichita-Falls-TX/

Here is what I got when I ran the numbers in my spreadsheet.  If you sold the note for the following amount/ it would give this gross yield to the buyer (there are items like servicing fees that would effect the net yield)

$90,000 gives the buyer a 9.15% yield

$85,000 gives the buyer a 10.30 yield

$80,000 gives the buyer a 11.55 yield

$75,000 gives the buyer a 12.92 yield

Some of the bigger note buyers I have talked to want the 12-13% yield.   You would probably find private investors that would be happy with smaller yields, but it may be more of a challenge to find a single investor with that large lump sum to invest.

Another thing to consider is the value of the property securing the note.  Many investors don't want to invest more than 75% of the value of the actual property.   In the worst case scenario of a foreclosure, they want room to come out of the deal even at worst. 

@Michael Richardson

In section 1 of your initial question, you mentioned structuring a finance plan that matched your current mortgage with a balloon payment.   You may want to check on the legality of that.  I believe Dodd-Frank eliminated balloon payments in new residential loans.  Can anyone else comment on this?

I am new to BP, so maybe someone can help me with my profile.   I am listed as a wholesaler, but I have experience in flips, long term holds, performing and non-performing notes. 

I would like my profile to say more than just wholesaler.  Anyone have any suggestions?