All Forum Posts by: Jason Jones

My mortgage broker referred me to a group of guys that do RE Investments. I can't post a link to thier website, but you can look them up. The host a radio show on 97.1 FM. The website is 971Roundtable (w's and dot 'c o m' of course)

They delivered on my expectations and it was a pretty smooth process.

Thanks for the response.

1. The lender (really a mortgage broker) is the one offering the deal. It's through an investment firm out here called The Home Ownership Roundtable. They line up all the pieces to the deals and then sell off the loan once everything is done. I just completed a rehab deal through them and it went smooth. I can't post a link to thier website, but you can look them up. The host a radio show on 97.1 FM. The website is 971Roundtable (w's and dot 'c o m' of course)

2. Yes, this is open knowledge.

3. The lot is on a golf course. Next to the new Tiger Woods golf course being developed. Seems like a good area that will attract buyers as it moves forward. Greenville is still seeing some appreciation, even in today's market

Your thoughts?

I just completed a rehab & rent SFH in Jackson, MS. Got a 75% return on the money I invested into the deal. If you count the equity, then I got a 437% return.

$4370 amount I invested
$7550 cash back at refi
$16,000 20% equity
$145 monthly cash flow from rent

Not bad in 90 days and living on the other side of the country.

Now... if I could just get these results every 90 days...

There is a devlopment deal happening now in Greenville, SC. You buy a lot on the fairway of a golf course. You put 5% down and the developer gives you 5% back at closing, plus the first 2 years of payments, and they get the option to buy it back.

Here are the numbers:

$269,000 lot
$13,450 5% down payment
$13,450 cash back at closing
$47,920 cash back at closing

You then have 2 years to decide to:

a) build on the lot
b) sell the lot back to the developer
c) sell the lot to someone else

Has anyone ever heard of this? $47k cash back at closing sounds like a great deal... too good to be true???