About 40% of all houses are free & clear and if you know how to make the right offer you can get seller financing.
Are you ready to learn the seller financing secret –> Click here to learn more
Let’s say the seller is willing to sell his $400k home to you if you put down $40k and he finances the remainder at 5% interest. In my market here in Richmond, VA a nice $400k house will rent for around $2,500.00 per month. You can check this by doing a fast Zillow search
Your monthly payment (p & i) will be about: $1,932 per month
Are you saying to yourself, sounds good Jim, but what about the $40k down?
See it always comes back to your strategy.
Lets assume you want to cash flow without managing tenants? You can seller finance to an owner occupied buyer who has cash for a down payment, but does not quite qualify for traditional loans at the local bank.
Are you ready to learn the seller financing secret
Learn this strategy now –> Click here to learn more
Stay with me and read this email twice if you have to:)
Your new buyer will buy this home from you as-is for $450k, will put down 15% and is willing to pay you 8% interest on a wrap around mortgage (wraps your seller financing).
You can close this transaction simultaneously (like a wholesale deal) & here is what happens:
You buyer brings 15% down on his $450k = $67,500
Your buyers monthly payment is: $2806
At closing you walk away with $67,500 – $40,000 = 27,500
You monthly cash flow = $2806 – $1932 = $874 per month
Good news —– This exact same deal strategy works on commercial deals.
