I have a need for investors, specifically we have a foreclosure in our park 3 bed 2 bath 1998 Bucanneer Challenger and Greentree has indicated they will let us buy it for $8-9k (not in writing yet just verbal). Balance owed is $29k, it is in good shape but will need skirting, pressure wash and painting inside plus appliances. Think we can get that done for about $1k. So we would need 9-10k depending on what Greentree finally agrees to. (we are trying for 7k but they are being stubborn)
We don’t have the money to purcahse it but we have a tenant/buyer willing to buy it at $18k. In our area of ALabama, people don’t have much down but we are being very successful in giving 10-12 terms at 7% interest rate with one month down payment and we promise to match that down payment. In this case with 400 down, seller match $400. Note of $17,200 at 7% over 10 years they pay $199 plus lot rent.
If down the road they move park pays the investor up to 2 months of their payment while we re sell it.
Anyone on the forum interseted in this deal? contact me at email@example.com
We have other deals available and we have the tenant/buyers waiting just not enough homes.