Investment Info:

Single-family residence fix & flip investment.

Purchase price: $50,000

Cash invested: $85,000

Sale price: $189,000

Cabin flip

How did you finance this deal?
Co...

--(1) it was assumed in 2012 by buyer-2 from buyer-1 at $110,000.(2) the contract was unclear chicken scratch changes rather than going through a title company to either renew or revise the agreement that shows who it was assumed from/buyer-1  to  buyer-2(3) an escrow service company was not used on the transaction for payment disbursements to be properly recorded, potential mismanagement of fund disbursements.(4) buyer-2 paid property taxes direct to the county, which should have gone through escrow service had this been done right. (5) back taxes as of 10/31/2021 $9,125 due to lack of escrow service, potential mismanagement of fund disbursements.(6) there is no paydown amortization table for the deal so I had to recreate it for everyone to figure out the payout balance from the time it was assumed in 2012 to 2022, which is at $95,000 using an online bank amortization calculator.(7) buyer-2 made $23,000 overpayments to principal direct to 3 different bank accounts for the owner/family since there is no escrow service company ($23,000 overpayment to principal implied, factored in buyout offer/term from my company as investor since there is no paydown records from owner (8) 95,000-23,0000 overpayment of buyer-2 = 72,000 is the buyout amount I am presenting in purchase agreement plus concession to pay the back taxes and closing fees.(9) I would be the investor assuming the note for buyer-2 and enter into a new seller financing agreement with my company at $70,000-$75,000

I am looking at a property close to many recreational areas. 

There is a ton of employers, lot's of recreational activities, some really top school districts in a few of those towns, etc. 

A year-round residence with 10 or more acres of land; it may have up to three year-round dwelling units.241 Primary residential, also used in agricultural production 242 Recreational use 250 Estate.   

It really pays to understand the following factors:• Property insurance rates • Municipal landlord taxes (an IRA or 401k may not be exempt from certain local taxes) • Local landlord/tenant laws – how easy is it to evict a tenant, for example.Local Market Factors In addition, you will want to look at things like neighborhood safety, quality of schools, access to transportation, proximity to shopping and recreation, and other factors that drive desirability.

Roads, access, populations, recreation areas, etc.B. 

Our typical buyer is someone who wants a recreational piece of property to hunt, camp, or to get away from the city. 

I am minutes away from the Appalachian mountains and three large freshwater lakes (Hartwell, Keowee, and Jocassee) with many more small lakes and recreational areas nearby, giving me opportunities for short-term rentals.

The location of and materials used for construction of any driveway or parking pad upon any Lot shall be approved as provided in Paragraph 18 hereof.No boat, boat trailer, mobile house trailer (whether on or off wheels), vehicle or enclosed body of the type which may be placed on or attached to a vehicle (known generally as a "camper"), recreational vehicle ("RV"), tractor trailer truck or cab, or commercial vehicle of any kind shall be parked on any street or any Lot within the Subdivision.