Creative Financing: Is this a good SubTail?

Question

Hi BP Family. As a relatively new Investor there is still so much I have to learn. I would like your opinion on this deal. I have a possible Subtail deal.. Getting it under contract as a Subto, doing little upgrades to the bathrooms and selling it on the market.

Market: Indianapolis, Neighborhood: Beech Grove - (B neighborhood) Hous is 3 bed, 2 bath, 1870 sqft, 2 Car attached garage, Built 1997. Condition is Good, No Basement, Semi Closed off Community.

As is Value: 210K

ARV 250K

Rehab: As a Rental 3K as a Flip 10K

Rents: $1,430, AirBnB: $ 130 nightly rate average (Airdna)

Terms:

Subto - P.I.T.I $1,110,

Loan: 0.3 % fixed rate, 30 year mortgage

15K - Seller walk away price

All payments are current. So what do you think? Does this work for a Subtail? Any constructive criticism/analysis is well recieved. BTW I’m looking to partner (not wholesale) with someone who has experience in Subto deals, as Im looking for hands on experience as I begin my journey in creative finance. So, if you’re interested DM me.Thank you all for you time.

Frank A. · Answer

Hey I hate to threadjack...Does anyone know where I can read more about SubTail deals? I don't quite understand the concept.

Cullen W Jones · Answer

I am an active real estate agent and an investor. I work as an ICU nurse 3 days a week, Realtor 7 days a week, and of course love the investing side of things too.

Jaret Lara · Answer

@Nick Giulioni I appreciate it man. Having someone with 100 properties say its a solid deal gives me great confidence. Sure I'd love to talk further. I'll DM you see if we can set up a call.

Jaret Lara · Answer

@Cullen W Jones Thank you for taking the time. I didn't get the loan, the seller put it in place. We still have to verify all the information though. I believe its with Horizon Bank. I'm curious do you also work as a Real Estate Agent, or are you mainly an investor?

Nick Giulioni · Answer

Seems solid to me! I don't have experience in Sub - but have done north of 100 projects in Indy and live in Carmel. Hit me up if you want to partner!

Cullen W Jones · Answer

0.3% fixed rate on a 30 year mortgage? May I ask who you used for this mortgage?! Looks like a solid deal to me.