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May 25, 2017

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What to do when a cash offer is too low

May 25, 2017

 

Hey everyone, it's Greg Saunders with Oak Alley Capital. Today I am in Waco. It is almost halfway between Austin and Dallas, actually a little bit closer to Dallas. We're looking at an asset that is a three bedroom, one bath property. Now what's interesting about this one, is the owner did not want to accept our cash offer on the property. We're actually teaming up with them to offer the property with seller financing.

Now the reason why I love this business model, is that me and my background as a residential broker, I'm going to provide the same services as any other realtor. But I'm also going to go one step above and show them how to structure seller finance deal. Now these are wonderful, because rather than getting a 3% commission on the front end of it, what I end up getting is somewhere between a ten and a $12,000 second position lean that pays out over the next thirty years. I'm going to get $105, $110 a month for 360 months rather than some cash up front. Now the reason why they decided to do this, is the cash offer honestly, was about $25,000. We can do the seller financing for about $50,000. We'll get them a 10% down payment, and the homeowner is going to get a couple hundred dollars a month, or if they want to sell out and cash out at any point in time, we can provide that loan, the first position note, to some of our fellow investors. It's really a win win, in that the property goes for a higher price, so the seller gets more money. We're able to provide our services and get paid over a long term. Then the buyers who purchase these properties, don't have to go through traditional financing.

As always, if you guys have any questions about this, if you want more information about the property before we publish the case study, feel free to reach out. Greg@OakAlleyCapital.com, send me a text or you can give me a call.
 

 

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