All Forum Posts by: Michael Lerch

Hey @Jeff Grover

Nice to meet ya! I do wholesaling and lease options all around GR. 

Bummer, this would be a great feature. Even if it was available to PRO members only... like me :)

I have a 3/2 1500 Sqft handyman special under contract in Lansing MI. Would make a decent flip or rental property. Asking $32,000. ARV is $75,000. Est $15,000 in repairs. This is a wholesale deal. Market rent is around $850 for the area.

See signature for contact info if you'd like to get more pictures, video, and details. 

Thanks!   

keywords:

rehab, rental, fix and flip, lansing, michigan, handyman, fixer upper, SFR, SFH, cash flow, hardwood floors, carpet, paint, drywall, roof, backyard, fence, garage, snow, cheap, investment property, good, fair, poor, condition. motivated seller, must sell, county.

I too would like to know. I saw him at a real estate conference in grand rapids, but wanted to do my homework first.

How I went from a terrible broken DIY type website to a lead generating masterpiece in only a few months was discovering Investor Carrot. I literally went from a handful of website generated leads to 3+ a day! Here's what organic leads via google, yahoo, bing, and SEO and PPC mastery can do for your business!  

"HOW OUR MEMBERS GENERATE 10K LEADS / MONTH: THE TOP 3 WINNING SEO STRATEGIES FROM 2014 TO ADOPT IN 2015"

Interested in learning more and how to apply the top 3 winning SEO strategies? You can find out what many wholesalers, buy and hold investors, flippers and even commercial real estate investors are using to gain the edge in the battle for online lead generating dominance!... AND THEY'RE WINNING!  

Hey @Angela Hovermale I'm glad you made it to BP!

@Eric Black thanks for the help. I found an amortization calculator and following your advice should help me give this seller some options

Thanks! 

I have a seller willing to do a seller finance deal on a property they own free and clear. They won't sell it for less than what they put into it around 80k. Seller is open to seller financing but wants a down payment. but unsure how much. This would be a buy and hold.

Purchase Price: $80k
Market rent 1000/mo
15 years and refinance
payments at $400-$500/mo to seller
no idea how much interest or down payment.

Suggestions? I know little to no down payment is preferable :)
 Obviously my first seller finance deal. 

I encourage you to get this started now. When I started the one in Grand Rapids / Wyoming MI I started it with about 6 people at a Panera Bread. Every month it got bigger and bigger. Here we are going on almost 2 years and have almost 300 members on meetup.com. It's a build it and they will come scenario :)

I say go for it !

You know the area and have another rental like it, you have the financials in place, and at $31,500 and $600 in rent you're just below the 2% rule so that's pretty good.

Which credit union does that for you?