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Solution HouseBuyers Inc
My company is seeking funding for an investment house we have contracted to purchase in highly popular Schertz, Texas. The home is conservatively worth $87,000 after it's repaired. It is 1500 SqFt, with three bedrooms and 2 1/2 bath. It was built in 1956, has good "bones", beautiful hardwood floors, and a central Air/Heat system. It needs $27,000 in repairs and is expected to sell or rent quickly.
Plan A is to fix and flip the property. Plan B, if it does not sell right away, is to rent it for 1 year and then sell.
Face Amount: $60,000.00
Term: 3 years
Interest Rate: 10.00%
Monthly Payment: $500 Interest Only pmts
Date of Note: April 15, 2011
Maturity date: April 14, 2014
Balloon at Maturity date: $60,000
Gain if goes full term: $18,000
Yield if full term: 10%
Lien position: First
Prepayment penalty: Minimum 6 months of interest
Please call or email with questions.
Regards
Steve Carlson
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