Hey everyone! I wanted to post something on here to see if I can entice some interest in the midwest. I am currently working on some lease options and have built my "buyer" list larger than my investor here can handle. I am looking for cash investors that want to play bank, very easy and very safe AND less in taxes because it's passive income and not capital gains (according to the CPA I spoke to but of course you should consult with your own to verify.)
So this is the breakdown of what I am doing. I have my real estate license and am purchasing REO's for as low as they will let me . I clear it with my end buyer who usually has money but their credit got hit because of a divorce or just don't have credit. This is where you would come in. The investor is fronting the cash to purchase the properties and also a little for minor rehab, great thing about lease-options is we don't have to make the house look brand new like a flip. A lot of times I can get everything for under $10K in repairs. From there you sit back and receive a check every month until the client's credit is good to "purchase" the property and get a very sizable return.
A quick break down of a deal I recently did with an investor here.
Client wanted land and outside Tulsa but within 30 minutes. Found them something in a little town called Mannford, the house was a 3/2/1 on 2.9 acres with a horse barn already. We purchased the house for $44k and I borrowed $55K from my investor for repairs and closing costs. The house sold in 2006 for $100K and that is what the client has agreed to purchase it for from us. The client put down $5K upfront and pays $550 a month (that's $100 less then they were to help them pay off other things to build their credit score). I will report their payment to the credit bureaus and hopefully they can finance us out sooner rather than later to where my investor will receive his principal amount back PLUS 20%. Also the monthly payments are interest only, so technically my investor is walking away with over a 30% return on his money.
Whew! I hope everyone was able to follow that. Anyways, I currently have 4 other clients that are needing homes and that is why I am here. I do all the research, all the leg work, and have the clients already, I just need help with the financing. So if you are okay with receiving over 20% return on your money in a year, please email me and we can discuss it in greater detail.
Hey everyone! I wanted to post something on here to see if I can entice some interest in the midwest. I am currently working on some lease options and have built my "buyer" list larger than my investor here can handle. I am looking for cash investors that want to play bank, very easy and very safe AND less in taxes because it's passive income and not capital gains (according to the CPA I spoke to but of course you should consult with your own to verify.)
So this is the breakdown of what I am doing. I have my real estate license and am purchasing REO's for as low as they will let me
. I clear it with my end buyer who usually has money but their credit got hit because of a divorce or just don't have credit. This is where you would come in. The investor is fronting the cash to purchase the properties and also a little for minor rehab, great thing about lease-options is we don't have to make the house look brand new like a flip. A lot of times I can get everything for under $10K in repairs. From there you sit back and receive a check every month until the client's credit is good to "purchase" the property and get a very sizable return.
A quick break down of a deal I recently did with an investor here.
Client wanted land and outside Tulsa but within 30 minutes. Found them something in a little town called Mannford, the house was a 3/2/1 on 2.9 acres with a horse barn already. We purchased the house for $44k and I borrowed $55K from my investor for repairs and closing costs. The house sold in 2006 for $100K and that is what the client has agreed to purchase it for from us. The client put down $5K upfront and pays $550 a month (that's $100 less then they were to help them pay off other things to build their credit score). I will report their payment to the credit bureaus and hopefully they can finance us out sooner rather than later to where my investor will receive his principal amount back PLUS 20%. Also the monthly payments are interest only, so technically my investor is walking away with over a 30% return on his money.
Whew! I hope everyone was able to follow that. Anyways, I currently have 4 other clients that are needing homes and that is why I am here. I do all the research, all the leg work, and have the clients already, I just need help with the financing. So if you are okay with receiving over 20% return on your money in a year, please email me and we can discuss it in greater detail.
Thank you,
Jonathan Gobbo
Vintage Ventures
Jon.Gobbo@****