Turn-Key Wrap Deal with 0% Interest
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $440,000
Turn-key wrap deal at 0% interest! $1775 monthly payments to seller, straight to the principle, with a 48-month balloon. Currently an LTR for $2400/month. Private money funded the $90k down payment at 8% interest, no payments due on that until the balloon in 48-months. Purchased for ~$20k under market value. I did a YouTube video about how I found, negotiated, underwrote, and bought this house here @RobDoesREI: https://youtu.be/PR3kYZVA3oI?si=T5fW8tEidM1M17XN.
What made you interested in investing in this type of deal?
Mostly the 0% interest and immediate $20k equity
How did you find this deal and how did you negotiate it?
Good question - I've never been to this city or met the seller in-person, so it's an interesting story! See the YouTube video on it here @RobDoesREI: https://youtu.be/PR3kYZVA3oI?si=T5fW8tEidM1M17XN
How did you finance this deal?
Wraparound mortgage with the seller
What was the outcome?
Currently rents for $2400 on a 12-month lease.