Nice area Income Property-Owner Carry

This is a nice open Ranch Floor plan that is located in a very nice area. The home is a 3 Bed 2 1/2 Bath Home it is over 1700 sf.  This is a excellent property to purchase and owner carry.  Lets go over the approx numbers. The maintenance of the property would be the buyers/Tenants.
Offer______________$110,000
Rehab_____________$ 7,000-$10,000
total______________$117k-120k
Sale on Owner carry at $170,000 (based on comps in the area)
We would require $15,000 down on the purchase and the payment would be $1400-$1500 a month.
Owner Carry payment_________$1450
Taxes______________________$   292
Insurance___________________$    60
Net Monthly income__________$1148 a month
So here is the approx profit.
$13,776 a year net income and $50,000 profit on the owner carry mortgage, you will also get a $15,000 down payment from the $50,000 equity. This is a great way to get a very good buyer/tenant in your home and have no maintenance with the buyer/tenant be responsible for that.
The is a new way that will of buying and selling income real estate. You basically become the bank, and we have a note servicing company that will can take the payments for you if you need that. You just get your income monthly.
Call Brett for all the info 216-703-5740 Century 21 Premiere

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