All Forum Posts by: Everett McCurdy
Everett McCurdy has started 2 posts and replied 3 times.
Post: Innovative RE Investment Strategy
- Posts 3
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Investment Info:
Single-family residence note investment investment.
Purchase price: $34,000
Cash invested: $34,000
Sale price: $79,000
I bought this home in Flint's Opportunity Zone and sold with owner financing, putting another family in a home they wanted but could never afford traditionally, raised the city's tax roll and improved the neighborhood at the same time. I like what I do.
What made you interested in investing in this type of deal?
The long term cash flow and high ROI.
How did you find this deal and how did you negotiate it?
Zillow. Offered 4k less than asking, compromised at 2k less
How did you finance this deal?
HELOC
How did you add value to the deal?
I take on the risk by selling to families who dont qualify for traditional bank financing
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I did.
Post: Innovative RE Investment Strategy
- Posts 3
- Votes 0
Thanks @Robin Simon I plan on reproducing this strategy in 2025 to buy 3-5 more. In the interim I'm seeking PMLs to fund them. Any interest Robin?
Post: Innovative RE Investment Strategy
- Posts 3
- Votes 0
Investment Info:
Single-family residence note investment investment in Reading.
Purchase price: $28,500
Cash invested: $28,500
Sale price: $80,000
Bought and sold a 3b/1b SFR with Owner Financing. Paid $26k, sold for $80k over 30 years.
What made you interested in investing in this type of deal?
Seller financing means I enjoy 30% ROI YoY. Long term financing ensures solid, residual net-profit income without being a landlord
How did you find this deal and how did you negotiate it?
Found on Zillow and negotiated price using cash.
How did you finance this deal?
I used a 1st lien position HELOC. Funded it myself to prove concept that seller financing is better than long-term rental ownership.
How did you add value to the deal?
I was the buyer and the seller in the entire process.
What was the outcome?
Bought a property for less than a new car and sold it for $80k with seller financing...projected to enjoy 30% ROI YoY with net profit beginning in 42nd month
Lessons learned? Challenges?
I used a local buyers-agent, he took alot of hassle out of my hands, he was worth the $$ and then some. Especially since this was my first deal.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I did but will only share with interested parties.