Two of Our Latest Acquisitions

Our two latest purchases are both 3/2 ranch style homes, the first is 1378 sq ft on a 10,000 sq ft lot - completely updated but missing the master bath! We are selling it with seller financing (before 1st July!!) in its "as is" condition to a young couple who will probably be able to finance us out within 6 months.

Purchased house for $165k and seller financing for $200k with 10% down at 7.5%.

We will be working with this couple on getting them financed through traditional means by working with our team of credit repair and mortgage specialists.

Couple are very excited and have been calling every other day during closing process to find out when we can get them into ownership - very cute!

Our second acquisition, also a cosmetic fixer, (actually closing next week) is an approved short sale at $110,000. We have a potential young couple who will also take it in as is condition for $155k. This couple will be in a rent to own situation for approx. 6 months while we work on getting them financed. We are not willing to seller finance to them due to not having enough down for our comfort. We are working with them as they have good, long term jobs and their payment upon purchase will be less than what they are currently paying in rent by about $200/month.

Latest Underwriting Condition

We have been really busy with all of the transactions we have going on.

Things to be concerned about for us right now are the ongoing appraisal issue, increasingly onerous underwriting and funding conditions that are coming from the banks, and of course the highly controversial new SAFE Act which seriously affects investors' right to seller finance.

One of the most recent funding conditions we had was based on an underwriter's viewing of some chipped paint on an outside garage which we had to paint prior to funding (pictured here beautifully repainted in its entirety at a cost of $200)