DG Fam...Who Wants To Make 1K or More in Finders Fee?

With that much of a discounted price, and that much equity, why wouldn't you try a hard money lender and purchase it yourself? Tenants already in place, work it as a rent to own deal. I wish I had about 25 like that one.

Longhorn

Very hard to find an hml or pml at this time. Lots of them want a decent credit score, or 10,20,30,40, and sometimes50% down, and also when using a hml there is usually a high interest rate 10-12% plus sometimes high points 9-12 so it is an expensive way to go. The demand is so high for them right now it's worth thier while to charge alot because they know they can.

Look at the numbers again. You stated ARV of 60,000 but then in the next line, mention no repairs needed.

Is this a deal you are doing yourself or getting second hand?

This property is in Dekalb County, GA. I can arrange for a HML for this. Let me know.

Also Don Angelo, if you feel this is a great deal, here is what can be done. You could buy this and if the current tenant wants to remain, you could do a lease to own deal, $2000.00 upfront, payments of the same they are currently paying. You could do a 1 year deal with a one year extension if the need it.

You could credit the tenant back $400.00 per month or $4800.00 per year that can be credited as a down payment plus add in the $2000.00 upfront monies and they have on paper, $6800.00 as a accumulated down payment which is better than 10% down and they go get a mortgage.

You cash out when they buy because your charging them more than what your paying for the property.

Drop me a PM if you want to chat.

Thanks for the correction jimmybtx. The owner didn't want to put is property under contract so we agreed upon a finders fee. About the HML, I don't think i'm in the position to do just that because my credit score is not so good and then again, I live in Canada. At moment i'm focusing on finders fee and assignments. Thanks though.

D'Angelo

I agree with longhorn if at all possible buy this yourself!I would consider this after study of that market however I'm in Missouri.Anthony2010

No one knows a cash investor/buyer who would snatch this up?

I might know someone, Ill let you know

My partner and myself are waiting on our investor to give us the go ahead on a property we just locked in on an assignment today. If we get a yes, I will definately ask him if he would be interested in purchasing this property as well. Send me a private msg.

Is there a reason the owner is selling at such a low price? Is there a loan on the property or is it owned free and clear by the current owner?

Hey jurgens1, there is nothing owing on the property. The owner buys foreclosure properties at the auctions for Cash and then flips them, holds them, lease them, etc.

No ATL investors in the house?...

Well, I guess this 1 was not meant to be. Another wholesaler beat me to the punch...he found a buyer before I did, but that's ok - I've just gotten my 1st property under contract today and it's such a good feeling knowing that i'm in control. Now I have 30 days to get this property sold...will it happen, I really do hope so. God Bless!