GREAT Cash Flow........any Ideas How To Finance?

no credit....no money......GREAT cashflow...

havn't got all the details yet, still working on it. this is what I do have.....

Property asking price is 360K

on the property there are 9 houses, 8 mobiles, 5 lots....all rented

owner gross rent is 9 - 10K a month

She says she nets 3 - 5K depending on month (she pays water/sewage every other month)

property tax in the 2600 yr. range......

I'll be getting individual information on each rental this weekend. any ideas until then??

Comments(1)

  • specialparking2nd September, 2004

    im kinda new to this myself, but if you have no cashflow whatsoever, do you really want to try and mess with all that for only $3-5k a month?

    Why not instead get the entire deal down, get all the info together, get the price lined up, and then sign the contract with a special clause you put in stating something like "subject to approved financing by partner" or something like that.

    Then you sign the name "Your name and/or assigns."

    And you then can flip the contract to someone else. And since you did all the dirty work, on a deal thats $300k, if you can get it down to about $280, figure out exactly how much profit they could make it they just got a decent mortgage.

    If they could make $4k/mo easily without any improvements, and you secured the deal at $280k, I bet you could charge a bird dogging fee of $15,000.

    You wouldnt have to do anything except flip the contract over to the investor, and walk away with a $15,000 check.

    Do that for a few more deals, and then invest.

    It's waht I plan on doing.

Add Comment

Login To Comment