Investor Wanted, Investors Only. Seller needs sale and leaseback.
Positive cash flow for the right deal.
2 BR/2 BA/1 Car Gar. Patio Home. Gated. Pointe Tapatio (7th St & Peoria)
- $230,000 Current market value
- $250,000 Mortgage amount ($200,000 first; $50,000 second)
- $175,000 Expected purchase price in a short sale
- $1028/mo Expected mortgage payment for investor buyer (20% down, 6.875%)
- $1300/mo Current owner/seller willing & able to pay this much monthly rent
- $1100/mo Current rent comps
- Current owner/seller wants an option to re-purchase the property in 2 years, at then-current market rates
For an investor who can put 20% or more down on the short sale purchase, this could be a positive cash flow of $100 to $300 per month. Current owner is gainfully employed with 20 years experience in current field as an accountant. She got in trouble when she took a 2nd loan to cover some family medical bills. The ARM adjusted, the market tanked and she got stuck. Current lenders unwilling to do a workout with borrower. Attempting to secure lenders' approval for short sale now.
HOA dues are $200 a month and current owner willing & able to pay these. Her total monthly obligation would be $1500 (rent + HOA); she's now scraping together $2100 a month. Her credit's been ruined by this situation but she's got good job history and this scenario represents a major reduction in her monthly payment.
Contact me if you're interested or know someone who would be! She's a client who's become a friend and I'd really like to help her out of this jam.