Hey, everyone. It's Greg Saunders with Oak Alley Capital, and I am in front of a new property that we're going to be listing. Now, this one's a pretty interesting case because the property value is relatively low for the Austin market. We estimate that the after repair value on this house is going to be about 120,000, probably more like 115,000. Now, the underlying lien is $60,000 and there are $20,000 in back payments in arrears. Hopefully, what we're doing is we still have to talk to the bank. We're going to get that 20,000 as a down payment on our end buyer, or our investor. With about another 10,000 into the property, they should be able to make all in all about $20,000.
Now, the thing about the 20 is because we're using the seller financing and we're taking over their mortgage just for that short term, and we don't have to go pay all the financing fees, the lender fees. Really what that 20,000, it's not so much on the 60,000 loan that we have underneath but more on the cash that we have into the deal. Now, the cash that we're going to have in are going to be the 20,000 and another 15 in repairs so 35. We'll be making about 20 on that. If you do that math, we're looking at roughly a 60% return on investment in about six months.
Even though this is a double wide property, we're out in the country, and there are three dogs that have been sniffing my leg this entire video, the return on investment is going to be pretty good and fairly secure, as well. As always, if you have any questions let me know. Otherwise, I'll keep you updated on this and our other projects, as well.