Hybrid model with creative financing

[Ethan Neumann]

Investment Info:

Single-family residence wholesale investment in Durham.

Purchase price: $235,000
Sale price: $255,000

Took over the mortgage sub to and structured a seller carry-back for the remaining equity.

There was a tenant in the property until June of 2021 at which point the buyer planned on selling the property. Knowing this information, I negotiated the seller down another 15k by stating we could include a balloon payment at the twelve-month mark to cash out the rest of his equity.

At the time of going under contract, the property was worth around 295k-300k, built-in 2011, and in one of the hottest areas in the Triangle.