All Forum Posts by: Richard Holbeck

Ogden, Utah duplex for sale with terms. $7,000 down, take SUBJECT TO a $88,000 first mortgage with PI payment of $875 with 24 years left. West side is 3 bed/1 bath ($750 rent) East side is a 2/1 ($650 rent). Both currently vacant. Choose your own tenants. New roof 3 years ago. Water heater and gas furnace 5 years ago. Single meter for all utilities. 

Rich

[email protected]

Nathan,

We use gotprint.com to do direct mail stuff. You seem pretty busy so remember that when you mail the phone will ring. Be sure that someone is available to answer the phone so you don't lose those important leads. Listsource can be a little tricky. They usually have some folks that can walk you through it if you call or email them. 

Rich

Dirk,

SUBJECT TO is generally used anytime there is an existing loan/lien on the property. The deed transfers but the loan is not paid off or formally assumed. In the event the borrower files for BK then it is possible that they will include it in the BK. However if there is no equity in the property it may be set aside as the trustee would have no use for it. (I am NOT a BK expert so you may get different answers here)

If the mortgage is in default then yes you will have to bring the loan current (reinstatement).

Rich

I look forward to connecting with each of you. 

I am wholesaling a 2 bedroom 1 bath condo in Salt Lake City. Seller has agreed to leave existing mortgage in place ($59,000 balance 4.5% rate payment of $391.04 includes TI of $52.56 impounded matures in May of 2038) for 5 years. Buyer to take title and issue an all inclusive trust deed (wrap) in favor of seller with a 5 year call. Tax value is assessed at $59,000. HOA fee is $130 per month.

Property is currently vacant but was rented for $695 per month. Unit has washer/dryer hookups and includes a stackable unit. Unit has electric water heater and baseboard heating with window AC unit. Gated parking with pool and clubhouse included in HOA fees. 13 minutes to University of Utah.

$7500 covers seller down payment and my fee.

801-686-8897

[email protected]

http://www.youtube.com/watch?v=5_C8gGHVEsI

Hello Ryan,

I can be reached at 801-686-8897 or email [email protected]

I am wholesaling a 3 bedroom 1 bath single family home in Bountiful Utah. Seller has agreed to a 40 year amortized note and trust deed with no prepayment penalty in the amount of $122,000 @ 6.9% $749 per month PI. Rents are $1200 per month for this area (currently vacant) and property needs cosmetic updates. Property has gas furnace, electric baseboard heat and a wood burning fireplace. Property ARV is approximately $157,000.

I am asking $10,000 which will include down payment to seller and my fee. This is my first time posting an ad in the marketplace. I welcome questions and/or advise.

Rich

My favorite place to buy is as close to me as possible. I find that this keeps me from having any long distance issues with management and vacancy as well as only having to deal with my local state rules and regulations. 

Barrett,

Let me know if you would like to do some local networking.

Rich

I am in Utah as well. Let me know if you would like to do some local networking.

Rich