Developer · Nashville, TN · Member since 2016 · 484 posts · 406 votes
This turnkey SFH in Indianapolis is sure to rent quickly! Once rented, the stability in this neighborhood will be hard to beat. Stable house; stable street; stable neighborhood. And, it comes with a 2 CAR GARAGE!!
Santa Clarita, CA · Member since 2017 · 90 posts · 18 votes
8y
@Jeff Schechter are your properties only on sale for cash or is financing okay? Has this property undergone a rehab? How old is the roof, water heater, electrical, etc... ?
Yes, at these prices, we cannot do financing. And, most lenders don't want to mess with loans in this price range anyway. All properties come with 1 year warranty. If you're amenable to paying cash, PM me with your private email address, and I'll have our Investor Relations team send you full info about scope-of-repairs, etc.
Developer · Nashville, TN · Member since 2016 · 484 posts · 406 votes
8y
@Cameron Davis Yes. Agreed. There ARE lenders that will do these loans. For a brief period, we did accept financing. What we found was that time to closing was quadrupled, and so were the paperwork requirements. Additionally, there were investors who just never could get financing, and those properties were contractually tied up, unavailable to purchase by others until those deals died. As such, our costs were increased dramatically. Had we continued along that road, we'd have to increase our prices by about $7K per property. That would reduce the ROI that the investor would experience. Since we are in the business of providing the best possible scenario for long-term performance/cash flow, accepting financing just does not align with providing a superior product. That said, there are many investors who pay cash, then do cash-out refi's after a seasoning period. That seems to work well, as they get the advantage of our cash pricing, and the leverage they want to free up cash to buy more.