I have a deal in the making that I’ve never done.
Here’s the scoop
It’s seller finance.
Cash would be $159k

I would need to discuss this with my attorney but the nuts and bolts would be $184K purchase price, 7% int...

Rarely does it work out where a junior mtg holder And an HOA agree to what the first is willing give them.

Hey Ari, I actually did not purchase the specific property I referred to in this post, the numbers did not work out.

But we could work out a deal where she manages the property, I cover all maintenance costs, and receive the income from the second unit for a specified amount of time or indefinitely.

I work out of state so I’ll need to hire a property manager.

I’ve never liked the idea of wholesalers playing in this arena anyway.....they often will tie up an owner who is on a clock, then they can’t flip it, and it’s like “oh well, it didn’t work out” when the owner Could have sold to real buyer and now likely doesn’t have time to do do.

There are a lot of variables to making development projects work out for the best, but it can help you see the bigger vision for a property instead of just carpet and paint.

1) Have clear Goals with access to capital 2) Perform daily Rituals that support the Goals 3) Uniform Branding 4) Marketing Plan (which I call a Massive Action Plan) 5) Conduct Daily Outreach 6) Due Diligence systems (either self-taught or through formal training) 7) Vetted Team in place (all the vendors and partners needed) 8) Workout systems (either self-taught or through formal training) 9) Living Forms Library (you need this to Note Invest at a high level) 10) Discipline to maintain the processes and treat Note Investing like a Business Please feel free to add to the list...

If the tenants don't leave you need a marshal to remove them but since scheduling a marshal can take a month some eviction lawyers urge the home owners to hire the marshal beforehand if they have one scheduled for 4/5 then it would work out great.

And this may not work out in your favor.