All Forum Posts by: Marjorie Lauran Bonaparte

@RickPozos I definitely understand your math but what about the 3 years of rental income that's received while the seller is holding a note and the tenants are paying down the mortgage (after repairs)? Assuming my repair estimates are correct, at the end of year 3 you're $54k lower than the $240k purchase price. The holding costs are way over budget for a seller financed deal. However, having lost my shirt on a rehab or two, I do agree that there needs to be another $10k for whoopsies. And again, the purchase price and $1000/mo payment to seller is negotiable (not sure if I mentioned that).

Still not a deal?

@Theresa Harris The offers were cash at 50% of what the seller wants and 35% of ARV.

@Ari Hadar Yes, I bought with seller financing. Property debt free, seller holding note for 3 years. Wants $1000/mo (neg). I've received cash offers $120k-$140k. The repairs came back $20k more than I estimated but its still a solid (neg.) seller financing offer. I was expecting offers would come in at $28k down, $200/mo, 5 year term. Its a low inventory, high rental neighborhood. The property needs to be restructured (maybe even gutted).

Hey BP community! I need your help. We locked up a seller-financed deal last week. Got a ton of attention but only a few offers. I've only marketed on FB groups (hitting Insta, Twitter & Craigslist tomorrow).
It's a heavy rehab project, 3/1, $47k down (neg), seller holding note at $1k/mo for 3 years (neg). Repairs approx. $50k. Can rent at $2500 upwards when completed. Purchase price $240k (neg). ARV/Comps upwards of $325k.

This should be flying off the shelf! What am I missing? All comments are appreciated!