|
|  |
| |
|
| | Post New Topic | | Exclusive buyers group for high profit homes | Views: 824 | | Dec 21, 2007 5:03 pm | | Exclusive buyers group for high profit homes | # | 
Phil Litzinger | | The PerDare Group has put together another turnkey high profit scenario for our clients. In conjunction with a reputable long standing company in the Atlanta area our exclusive buyers group is able to secure 10 properties a month. Each property allows the buyer to tailor their real estate strategy to their personal investment needs.
The profit opportunity for group buyers is very high and in most cases portions of profit can be realized on the front end of the investment. Detailed within the remainder of this blog are the requirements to participate and the different holding strategies for this type of real estate.
Buyer Requirements:
• 680+ FICO
• Full doc loan requirements (Loan amounts are under 100k)
• $10,000 in cash reserves for closing (all closings are typically less than $10,000)
If you work with a loan officer that can do Georgia loans you can use them but they have to be able to pre-approve you for a no seasoning cash out refinance which will need to fund 30 days after the purchase. We have a loan officer who works at a local bank in Georgia that can do these loans.
Holding Strategies:
• Quick Flip – We have in place end buyers who will purchase these properties typically within 60 days of your initial purchase. Net profits are lower than any other holding strategy because the end buyer wants equity built into their purchase. The ROI is typically a net of twice the closing costs.
• 3 Month+ Fix & Flip – This will allow you to turn the property around on the open market typically within 3-6 months. Cash out refinance of 75-80% can be done to handle any debt service until sale. Working with Keller Williams Realty in Georgia we have been able to increase the turn time. At these price points the properties move well. Average net proceeds from a transaction like this with these price points are typically $40k-$80k.
• Long term 12-24 month hold, the properties allow for a cash out refinance of up to roughly $75-80% LTV. A lease option tenant will be placed into the property and the tenant will contract to purchase the property within 12-24 months. Upon the sale of the property an additional 20-25% equity will be realized. Average net proceeds from a transaction like this with these price points are typically $40k-$120k.
Keep in mind I have shared with you the rough details about these properties. If you would like to go over the specifics and learn how you can get into this group call direct at 702-492-4942.
Private Reply to Phil Litzinger | | |
| |
| |
Previous Topic | 
