This house at 1219 Perez St. in the 78207 zip code is another example of one of our more affordable homes. This area is being revitalized, but homes are still less expensive here than north of downtown.
It was bought for $29,000 cash by the investor, and resold with owner financing for $55,000. Only $7000 in rehab was done, leveled foundation, painted floor, painted in and out. No more than that should be done as it isn’t necessary for resale. Terms:
- $5000 down
- $550 per month
- 10% interest
- No prepayment penalty
- No balloon
- Final price: $55,000
- 12% ROI
More Pictures After Rehab:
Interested in Investing? Key Points –
- $50-70k cash wholesale properties – mostly sold to California cash buyers
- We qualify end owner finance buyers on job history and documented income per Dodd Frank rules.
- All owner finance prices are FMV.
- Typical terms – 30 year note, 10% int., $5000 down payment – varies depending on exact deal
- Low foreclosure rate – resell to new buyer if needed
- 10-13% ROI is typical return
- 1-3 months to locate quality owner finance buyer
- Tax/insurance payments are escrowed
- 5-10k rehab, no long term property maintenance
- We have completed over 1,000 of these deals
- Contact us to learn more