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May 25, 2017

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Creating a Note in Austin Texas

May 25, 2017


Hey everyone. It's Greg Saunders with Oak Alley Capital. I am here in Dallas, Texas, today looking at a couple of assets. Rather than providing this video from my office, we are in a coffee shop. I wanted to show you guys a really cool opportunity that we have inside the city limits of Austin, Texas. What this is, this is a property that we're taking on for next week. It's going to have a two week lease back, and then we're going to be flipping the property.


Now, the reason why I'm advertising this is to show you guys that if you wanted to create a seller finance note, how we can make that happen. This particular property is on Quinton Drive. We're picking it up for about sixty-four cents on the dollar. Repair costs are about six point four percent of ARV. Single family residence. It's three month time frame, your pretty standard three two. Now, what's great about this is the ARV is one ninety. Picking it up for one twenty-two. I'm saying that my repair costs are going to be about eleven-thousand five-hundred, which is really overstating it, especially when you look at the property or the photos.


To really get into it, the expected profit is about thirty-seven thousand dollars on this. Now, we're going to be selling this at a hundred and ninety-thousand, and on a three year balloon note, more times over thirty years, we're looking at about fifteen hundred dollars a month in passive income. If you guys wanted to partner on this, we're going to be offering a first lien position at a hundred and forty-thousand. That's about thirty-seven thousand dollars in equity, a share of, and then also a share of that fifteen-hundred dollars a month. Now, I've sold seller finance notes in Austin before, and they are incredibly difficult come by.


As a matter of fact, because I am a licensed broker, I want to show you guys something that you probably haven't seen. Here's the MLS access. We're looking at houses between fifty and two-hundred and fifty thousand dollars, so comparable, since ours would be a hundred and ninety. We're going with owner financing on the first mortgage. Now, Austin, Texas, and the greater metro, is about one point five to one point six million. In the city limits, you're looking at about eight-hundred thousand people, and if you look down here, we have five. Five houses that are being offered on seller financing.


When I tell you that there is a lot of pent up demand on this, I am not overestimating. If we look at the results ... Actually, let's go to the map function. I want to just show you guys where everything's located. We have one property in Pflugerville, one here in North Austin, the east side. Then, you have two out in no man's land, this is pretty much country. Where our property is located is right where that cursor is. This is one of the highest appreciating areas. If the buyer does default, the appreciation right now is anywhere from ten to twelve percent on the asset. Also, as you see, if you want to be within a twelve point six mile radius of Downtown Austin, we're going to be one of six available properties. If you guys have questions about this, or you have an interest in joining me and creating this first lien position, for a three or five year time frame, feel free to send me an email. Greg@GJSCV.com. Or, you can always give me a call, respond to my videos. I hope you guys have a great day, and I'll talk to you soon.

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