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I asked if he had ever thought of selling Nike Sweater Dress
Stories: 2This is a single family house. The current owners are in a tough financial state. They have missed a couple mortgage payments over the last year or two and are struggling to keep up with payments. He even tried restructuring his mortgage to get a reduced payment this didn't work.
I would love to do one of two things. One would be wholesale the property. However I think it might be hard Nike Women Socks
This owner would also want to be off the hook for repairs/expenses, so in my agreement to the owner I would somehow need totake responsibility for those. I assume this is typical in sandwich lease options?
his house to an investor and then renting it back from them. This has really gained his attention.
I think an investor could purchase the property for $175,000 $180,000 (72 75% of ARV) and reduce their rent to say $1,100/mo for year one, then maybe $1,200/mo for year two. But as part of the agreement/lease the rent would then return to market value of about $1,800 1,900/mo.
In this case it is a goodhouse, in a great location, in a good school district, but it isn't marketable as is. I would need to front say 5K for option considerations to the owner, then another 10 15K for new carpet and paint + minor cosmetic fixes. Which is understandable but I'm not in the position to front up to 20K.
to find a buyer willing to take a reduced revenue stream for years one and maybe two. Or Two would be have a real Nike Tech Fleece Pants Red
Should I Wholesale or Buy and Hold
estate investor act as my bank and fund my purchase of the property. Then I would be the investor willing to take a reduced cash flow. Those numbers might look like: $175,000 note at 6 7% + $5,000 down payment, I/O payments during the reduced rent period (1 or 2 years), then revert to P payments for the remainder of the term. My understanding of a sandwich lease agreement is this: me leasing it from the owner for his Nike Down Parka mortgage payment ($1350) and then turning around and leasing it to a tenantfor market value ($1800). Then my cash flow would be the spread.
I can go into more detail but tomake a longer story short, he is motivated.
After some leg work I've a) educated him on what it would take to sell and get market value, and b) established realistic price expectations if he were to sell to an investor instead.
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