$25,000 Down - SELLER FINANCED - CASHFLOWING BRRRR

[Austin Faux]

Great deal for the Denver, Colorado market!

$25,000 Down - SELLER FINANCED - CASHFLOWING BRRRR

This is a seller financed property that is also currently cash-flowing.  This property is literally paying for itself and for $25,000 it can be yours!

Call me at (720) 903-3600 Ext. 102

Just got a property under contract from a man with health issues that's going into Foreclosure.  He's declared bankruptcy so he's stalled the foreclosure sale date, but he wants out!  The $25,000 down will cover all back payments and bring the loan current allowing you to take over the monthly payments at:  $935/m (1st) at 2% HAMP and $88/m (2nd).  

The homeowner has some major "temporary" health issues, and couldn't work so he fell behind on his mortgage.  As such he's been renting out the rooms in his house month to month at $450/m x 3 tenants = $1,350.  

The property does have some cosmetic issues like interior paint, carpet, new windows.  The wood floors could use sanding.  The kitchen is outdated and could use some new tile flooring.  The major stuff like roof, structure, etc is fine according to the homeowner, and I didn't see anything that popped out.  The property is in livable condition as-is hence the 3 tenants, but if you really wanted you could put another $20,000 - $30,000 into it, but just to spruce it up maybe $5,000 - $10,000.

Because of his health issues he can't move out yet, but has agreed to move out at the end of 1 year.  So whoever takes this deal would have to agree to those terms, and in all honesty that's what would be best for the homeowner because he needs to get his health up some more before moving his stuff out. During that 1 year period the property would be paying for itself via the tenants, and paying down the principal of the house....and that's where the real FUN begins!

The property can be turned into a great BRRRR and according to Rentometer the property could be rented out at $1,875. But if you know the Denver market you know this property could actually rent for $2,000+ easily. If you then take this and turn it into a wrap-around mortgage for someone you could make even more money via interest.

Call me at (720) 903-3600 Ext. 102

Thanks,

Austin-