We Are going to try something new. Hopefully more people will take part as we go along. This will be posted in the groups that I frequent. However, it will always start with my group, (Beginning Investors Group) BIG. Post a deal or potential deal that you have and if others have suggestions or a creative way to make the deal happen, put it in the comments. Heres mine... 4 bd 2 bth 1385 sq ft in Paulding Co Georgia. Built in 1984. Owner will take what they owe on the house. Original loan was made 12 years ago. They just did a loan mod last year, so short sale probably will not work. Owes 111k. House ARV is 110k. Rentals in area are approx $1000 month. Monthly Payment is 685, 5% interest, and an $8000 balloon payment upon sale of home (because of loan mod). Nice house, nice yard. 2 car garage House needs repairs as follows: Need New A/C unit Roof needs repair, about 3 areas are leaking. and reshingle entire roof. Needs new gutters around house. Soffit on backside of house needs replacing Needs new sheetrock ceiling in upstairs bathroom along mirror wall Chimney facing (wood) needs to be replaced (woodpecker damage) and all rooms need new coat of paint. Another investor told her that repairs would be around 15k. I think that may be a little low. Homeowner does not have $$ for repairs and is willing to just walk away. She has an apartment picked out in FL to be closer to her family. Now, what would you do? What is your exit strategy? Show us how you would structure the deal. This is great practice. If you want to be successful, you must practice your craft. Please show us what you would do in the comments section. Stay tuned in to this page for more deal structuring practice. If you are in the Atlanta Area, come visit us at BIG 3rd Mondays of each month, and CDS (Creative Deal Structuring) 1st Wednesdays of each month. Visit our pages on Facebook to get more information!
Posted on: Fri, 01 Aug 2014 16:43:35 +0000
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