Mar '25 (edited) • Wins
Deal Breakdown - March 2025
#Wins
We just wrapped up another deal that I consider a base hit. Here are the numbers and how we did it.
This was a FSBO found on Zillow located outside of Spartanburg SC. I was on the phone with the seller within minutes of his listing going active. This area has been a gold mine for me over the last 10 years.
PP: $34,500
Rehab: $35,000
We borrowed $74,000 from a private lender at 10% interest and 15 year fully amortized for the underlying finance. We made it clear to the lender that we'd be wrapping a seller finance 2nd around his 1st. We have done 5 others just like this with this particular lender
Sold to Owner Occ for $149,900 - 6 DOM to Contract
Down Payment: $30,000
PI: $1,088 (dropped int rate to 9% for larger down payment)
Cash Now: $30,000 + $4,000 excess from lender
Monthly Cash Flow: $292
Note Equity: $46,000
I'm not going to retire on deals of this size...I'm also not going to go broke doing them either. I also dont have the stress of trying to wrap a subject to mortgage or the worries of having to sell a note with a singlewide as the underlying collateral.
2
0 comments
Deal Breakdown - March 2025
skool.com/re-cashflow-wo-tenants-6843
Learn how to control real estate with Seller Finance to create cash today - cash flow - and equity all without the headaches of rentals or tenants
Powered by