All Forum Posts by: Yasha Wells

Investment Info:

Single-family residence other investment.

Purchase price: $171,428
Cash invested: $11,383

I have acquired this property through creative financing. I purchased the property subject to the existing mortgage of $92,700. The first note is $874 monthly, including PITI. The second note is $70,728. I have financed the second note with the seller for over 15 years at $200 a month with 0% interest. In 15 years, the property will appreciate at a minimum of 3% year over year and be worth $267,079.24. Such a great hybrid deal.

What made you interested in investing in this type of deal?

I was highly interested in investing in this type of deal because it was low money down and something that could be done without traditional financing.

How did you find this deal and how did you negotiate it?

I found this deal checking in with a friend with who I have not spoken with in a while. I negotiated this deal finding out their motivation and what they would be willing to sell for.

How did you finance this deal?

Subject to and seller financing

How did you add value to the deal?

Helping the seller move on from the property and save real estate fees

What was the outcome?

I purchased the property

Lessons learned? Challenges?

Lessons Learned:
- find the motivation of the seller
- if there is other parties involved (spouse)
- who will be the final decision maker?
- don't get emotional

Challenges:
If you come across a challenge or where the deal does not feel easy. You are getting emotional! Take a step back and ask the seller what about the deal/offer doesn't work for them.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Myself - Real Estate Broker Associate

Investment Info:

Small multi-family (2-4 units) private money loan investment.

Purchase price: $308,500
Cash invested: $20,000

This property was a land acquisition deal. My husband and I are building a new construction duplex here and will be doing short-term rentals on both sides. Projected ROI per unit will be $124K per year.

What made you interested in investing in this type of deal?

My husband is GC here in Florida and we are looking to create a higher residual income. I have been managing 30 short-term rentals the past year and wanted to move into a new market with a property that we will own including being able to self-manage.

How did you find this deal and how did you negotiate it?

We found this deal by letting local agents in the area know what we were looking for and less than a month after the perfect opportunity came along to make this happen.

How did you finance this deal?

We financed the deal with a private money lender and my husband is also a tier-one contractor with them.

Lessons learned? Challenges?

Lessons learned the seller was not willing to extend when our deal did not close on time. So instead of only having $10k skin in the game, we ended up with $20k skin in the game. Don't trust the lender's word 100% because we were under the impression everything was good to go based on their response to us regarding closing and on the day of closing everything hit the fan and we had to extend for 3 additional days.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

DLP Capital - Sam Martin
Scott Babbit in St Augustine, FL

I’m located in Jacksonville. Which areas are you considering? 

AJ wells 9045530069