We were thrilled to be able to put one more family into homeownership before the year end. The young couple are here signing their documents - this was a seller financed transaction using an All Inclusive Trust Deed to wrap the underlying financing. How the numbers worked were as follows:
- Sales Price: $249,900 with $22k down and interest rate of 7.5%.
- Purchase/Closing/Rehab: $179,000.00 (Overall profit of $71k combined cash/paper)
- Monthly payment to them: $1595.00 plus taxes and insurance
- If renting: $1995/month
- Benefits to them - payment less than rent, PLUS write off for interest payments.
- Benefits to Investor: No responsibility for repairs/taxes/water/sewer etc.
My favorite type of deal :)
Signing out - Caroline Hegarty
Posts
No comments:
Post a Comment