We are looking for a Joint Venture partner to help us acquire the note/mortgage on this good looking property in Elyria, OH.
The house is in good shape, and we can pick it up for $25,750 or 44% of the 58,000.00 BPO (Broker Price Opinion). Nice middle class neighborhood with flags a flying! Our ideal situation as they have a higher chance to work out repayment of the note than a stripped out crack house.
Its west of Cleveland and foreclosure has already started. We like that as it save us time and money, and is typically what wakes the homeowner up that they have to pull their head out of the sand or they loose their home.
Rents in the area average $695.00 & the payment is only $464.20, so they are better off working it out than renting somewhere.
Current BPO and deal sheet with 4 exits available upon request.
If you have idle funds in an IRA or if you pulled out of the market before it explodes, then get with us right away as nice properties don't last.
The Note Whisperer
Silverwood Capital, LLC
Here is the rest of the neighborhood; to the left, love the flags!
To the right of the property;
Across the street, rehab going on! These are from Google...