My Deals

If I found a multi-family property with positive cashflow and has an assumable mortgage 2.2 million(30 years left on the term 6.5% interest rate). The asking price is 2.7 million. Can I get a hard money loan for 500k and once the property switch title, immedietly take out equity to payoff hard money loan? If not is there any possible way to make this deal work? Can I have the seller hold a second note for the 500k and the after closing take out the equity on the property?

I am a Finder of Residential homes for Investors!
This property is in the Martinsburg, WV area.
It is a 3 bedroom; 2 bath; split foyer with an unfinished basement and garage.
This family is in URGENT need of a cash investor to buy their home.
It is scheduled to be sold at the courthouse on November 12, 2010 and they would love to be able to stay there and rent.
Please send me a Personal Message ASAP!!!
Thanks.

I found this deal and I want your input. Multiunit (actually 3 units) all under 1 deed. Asking price $60,000 for both units. Actually its 3 under 1. One is a 6 unit and the other 2 are sfr. Rent is $4,000 monthly, taxes are $3,000 yearly, insurance $1,200 yearly, water/sewer/trash $1,200 yearly. I pulled comps on 1 section and they were $90,000. Not sure if it could be put under 2 or seperate deeds. It needs rehab and I'm waiting for the quotes to come in. The property is located in the city.

Is this something that I should jump on? Would anybody be interested in partenering up and finance this propety. A lot depends on the work that needs to be done. Or maybe you know of someone who would be interested in purchasing

Heather

Hello DG family, 1.When doing assignments, how does my real estate agent get paid for?
2.Acting on my behalf and locking up the contract with the seller?And what is the step by step process when doing assignment deals with an agent?
3. What type of questions to ask when talking with a seller about the property? In other words what questions I need to ask about the property? To know if it's a good deal that I can turn over to an investor..thanks to all who respond to this

Well, the meeting was a 2.5 hour dialogue. It was quite strange and rewarding, although I hadn't gotten any of the properties under contract. My guess is that the woman is semi-motivated. The one property I checked out today needs between $50K-$60K worth of repairs. The lower end comps I received from my agent are between $10K and $40K. Now, the 1st floor of the property, which was once a store, is pretty much gutted. The 2nd floor is a 2 bed/1 bath apartment. Someone had begun remodeling the place to make it a 2 family unit, hence turning the store part into a residential unit, about a year ago. Unfortunately, the place was left in shambles because the guy who was remodeling passed away.

We are in desperate need of some amazing deals. If you know of any deals in New Jersey, specifically in North Jersey or wish to bird dog some deals, please let us know via PM or sign up via my signature below. We are doing a lot of deals and don't have enough properties to pass along to our end buyers. We are willing to split 50/50 on all profits.

Jill & I have just completed another rehab. This was another Fannie Mae foreclosure. It is a 2bed/2bath/1car
1200 sq. ft. under central a/c that has been completely re-done & brand new. We would be thrilled to
cut a check to a DG Family Member for bringing us a buyer. The property is located in Beverly Hills, Fl. & is offered at $ 47,900. Send us a PM for details; Thanks, Gary & Jill

Looking for high cap rate multi fam , retail or office. Must be at least 12% cap , up to 500K..

Can someone help with this please?

Hi DG Fam. found a FSBO in westchester ny by missing an exit has some nice equity any intrested in letting me bird dog this one for them ?