Real Estate Investing!

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Original message

TJack

"Dealmaker" , Sat 11 Nov 19:10

In the archives I found this post by you and it made me curious as to how you pull this off.

Here it is:
"I rehab & retail, rehab & rent, and buy as many as I can get buying 'subject-to the existing mortgage' and Land Contract with an exit strategy of offering owner financing".

My question is "are you owner financing (as an exit strategy) homes you 'rehab & retail' or were you only talking about homes taken subject-to and Land Contract that you owner finance as an exit strategy"?

Replies:

dealmaker
Moderator

"Depends" , Sat 11 Nov 20:51

Hi T:
It just depends. Next week I close on a rehab that was purchased for rehab (cash) it was sold for cash (buyer arranges financing). Profit is substantail with mimimal repairs.

I sold two homes last week that I was going to rehab but a guy offer to buy both as-is but needed financing. He understood that I would charge more for carrying back a note. He had the down-paymt and the cash flow is great. BTW, my price was over 120% of my Purchase Price.

I like owner financing on most seller carryback deals that I get;however, I've sold some subject-to deals for Cash with a matter of days. Either way is fine!

It really depends on the deal and how many other rehabs are going on at the time. I'm flexible in my exit strategy.

Thanks for contributing T!

Dealmaker