All Forum Posts by: Mike Thomas

I've come across what I believe is a fantastic deal. I found a property where the owner is willing to sell before it hits the MLS and is open to seller financing. The property is fully renovated 5- unit, so there's no need for value-added improvements, except for the potential to build another unit. It's located in the heavily invested area of Independence Heights. The property appraised at $930k but is willing to sell it at $905k, and the rents are approximately $1450 per unit. Seller has agreed to these terms. 20% down, 6% on the remaining balance, Interest only payments for the first 2 years. 35 year term. Looking for private money lenders or partners

Hey Chris,

Thats awesome. I would love to meet up and talk shop one day. How's your schedule like next week?

Hey Everyone Im Mike T. Im looking to invest in multi-family and rehab properties. Long Distance or Local

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $252,000
Cash invested: $25,000

Brick house, 4 bedroom, 2.5 Bath

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

MLS

How did you finance this deal?

FHA loan

How did you add value to the deal?

I put in sweat equity