Now as someone who knows a little something about real estate I had a friend tell me yesterday about a project he is organizing and managing to offer rental property on a creative basis.
Now I am not selling you anything nor am I offering you an opportunity to buy but I would be willing to pass you the little overview my friend created and put you in touch with him!
This is for two homes over 18 months with your cash out upon receipt of the 2nd home. There are 105 available!
These are his basic needs:
- Must be able to qualify for conventional lender refinancing. (680+ mid FICO score)
- Must have at least $35,000 available. (You will get this cash back in the deal)
- Have adequate income and low enough debt to income ratio to qualify for a $210k refinance at 75% LTV. (157.5K)
- Be ok with a 5 year investment term with your cash back out in 18 to 20 months.
- Like monthly cash flow estimated at $150 per door per month.
- Total projected profit in this deal $80k+ over 7 total years with nothing in it at 18 to 20 months.
- This will work fine for SDIRA investment funds.
Now since we know I have nothing to sell and not soliciting you to buy in order to put you with my friend you can PM me and give me your name, phone number and email address and I will pass it along to someone who might want to sell and proposes to solicit you to invest in a couple of homes.