All Forum Posts by: John Saunders

@John Underwood, 

Great info regarding South Carolina. I had no Idea that you didn't need to go into Foreclosure proceedings in SC and there is no additional paperwork and you get mailed the Deed... That's a massive advantage in my opinion...

@John Underwood, Do you invest in Tax liens in any other states or only SC?

Thank you 

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $900,000
Cash invested: $900,000
Sale price: $1,200,000

This 8 unit Multi-Family was on the market for 1.2mil..... We bought it for 900K... The 8 Unit Apt cash flow's at $8,000 a month....

What made you interested in investing in this type of deal?

This is a great investment because its currently performing at 7.5% Cap rate right now and there is room for the Proforma to go up on this investment.

How did you find this deal and how did you negotiate it?

I able to get this deal because I had a business relationship with the property manager that ended up being the Listing agent. We have done business in the past and we like working with each other as it is a very straight forward and easy process when we are able to come together to make a deal work.

How did you finance this deal?

This was a all cash purchase.

How did you add value to the deal?

The value I bring to this deal was a fast close of escrow and I make it a very easy process to work with me. We closed escrow in 10 days.

What was the outcome?

The outcome of this deal was a win, win, win. The seller got paid in 10 days, The buyer got a great deal, the RE Brokers got there commission.... Everyone wins!!!

Lessons learned? Challenges?

You can be in the game playing, or on the side lines watching. You have to make a choose on who you want to be.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I was the Buyers RE Broker. I have sold over 100 units to this investor total.

I was wondering if anyone knows of or is using mortgage loan origination software that works on a Mac computer. I am having a really hard time finding this software for a Mac..Thanks in advance.....

PS...Please let me know if a phone call is better and I can send you my cell #