Single-family residence private money loan investment.
Purchase price: $495,000
Cash invested: $197,000
Sale price: $499,000
Privately funded a 1st position mortgage. Buyers had over 50% down and were relocating from out of state to reside in property.
What made you interested in investing in this type of deal?
Knew the buyers were experienced homeowners with a terrific track record and history of improving every property tastefully while occupying it. They had planned to rent until securing jobs but found landlords and property managers were unwilling to work with them because they had interviews lined up, but weren't employed yet. Not to mention 2 pets. We were confident based on research that the employment would come through, and >50% down payment was adequate motivation.
How did you find this deal and how did you negotiate it?
Knew the buyers, sold their house in the San Francisco Bay Area.
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