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!
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