Seller Financing Continued

SO, we have a total of 3 seller financed transactions in progress in addition to one closed.

Our goal is to set up notes that create at 9-11% yield to a note buyer. The second of these is as follows:

Purchase Price: $175,000
Downpayment: $17,500
First Note: $130,000 @7.5%
Second Note: $27,500 @7.5%

We will be marketing first note for $115,000 which will give a nice passive yield.

This creates a great win/win situation for a couple who could not qualify for conventional financing and an investor who appreciates the opportunity to earn a better than average return on investment secured by local real estate!

John Schaub Class

Went to hear John Schaub speak at the SJREI club in Pleasanton on Wednesday - great information as always. One day class on Saturday followed by dinner at local restaurant.

WHAT A KERFUFFEL

Well, we have had an exciting few weeks in Real estate on our end.

First of all, we have a new website which gives info. on all of the great ladies I am working with - we can be found at www.solanocommunityinvestorsgroup.com

On the Real Estate Side, having had 2 of our houses fall out for the second time, we are now switching to Seller Financing.

First House:

2749 Tuolumne Street, Vallejo

This was a profit sharing deal with half of net profits to underlying financing. As this is not longer a "cash out" deal, we will be adjusting the underlying note UP by half of net profits (more now as no RE commissions) and looking to cash out by selling note.

Buyer is a RE Agent with 10% down on purchase price of $164,900 30 yr fixed at 7.5% fully amortized 5 year balloon . Underlying Financing is currently at $92k and will now adjust up to $109,500 at 7.5%

Stay tuned!