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Forums » Make Deals, Find Partners, Mentors & BirdDogs, etc. » Builders/Contractor This One's For You!!! Wholesale Deal with Seller Financing in Place!!!

Builders/Contractor This One's For You!!! Wholesale Deal with Seller Financing in Place!!! Subscribe to Builders/Contractor This One's For You!!! Wholesale Deal with Seller Financing in Place!!!

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Tag Tags: rehab flip fsbo handyman


Edward Alvarez

Rehabber · Los Angeles, California


Forum_avatar_avatar-agentalvarez

Jun 28 '11, 04:15 AM

Location, Location! Los Angeles, CA 90042

"Owner Will Carry" 75% of Loan @ 9% - 30yr amort. w/ 5yr balloon

Need 25% Down = $61,250
Loan payments @ 9% = approx. $1,480 a mos.

Out of Pocket = 121,000 (acquisition and rehab)

Asking Price: $245,000
Rehab: $60,000

ARV: $380,000+

1BR/1BA SFR / 528 sqft / 6,120 sqft Lot

Rehab: the current 528sqft home needs foundation, also an addition of 500-700sqft making it a 3BR/2BA Home. Upgrade Kitchen and bath as well as landscaping.

Profit Potential = $65,000 - 90,000 depending on Rehab.


Chris Martin

Real Estate Investor · Holly Springs, North Carolina


Forum_avatar_avatar-wakeproperties

Pro Basic

Jul 02 '11, 07:50 AM

So at the current 528 sq.ft., the price is $464/sq.ft. After fix-up and addition, the ARV price is $309/sq.ft. to $369/sq.ft. I'm not sure I understand the math. I tend to buy at $20-$30/sq.ft. so this isn't for me.


Richard Graham

Real Estate Investor · Outer Banks, North Carolina


Forum_avatar_avatar-richieg

Jul 02 '11, 10:10 AM

Chris,
that's becuz we are in North Cackalaki. I just put an offer on a 3500sq/ft w/ detached 1000sqft mother in law suit. On the Outer Banks NC (thats the beach for those who don"t know) with awesome water views of the sound. Oh yeah did I mention it has a frekn elevator. Offered $165 on Freddie Mac home listed at $199K needs $50K in rehab. house next door just sold for $375K and has half the sq/ft not including the in law suit.

God Bless NC

Location location Location....




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