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  • $40,000
    •
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    CHECK IF AVAILABLE
  • 2 bedrooms
  • House  2 bedrooms
  • For Sale 
  • Klamath Falls
  • united states Flag United States
I have a Real Estate investment opportunity for which I need funding.

This funding is for the purpose of Purchasing, Rehabing, and Resale of a Single Family Residence w/ 2 Bedrooms 1 Bath and Living Area of 945sq. ft.

Here are the initial particulars and more information is available upon request and level of possibility for funding.

Transaction Logistics:
The Seller has agreed to sell the property to me for $40,000.00 and will accept $29,500.00 at close, and, he agrees to take a `Hold and Wait` Second Mortgage for the balance of $10,500.00 at NO INTEREST and Balloon Payment at Re-sale, Close. I`ll pay off the Sellers 2ndwith funds from the Down Payment and Funds for Purchase I receive from a New Buyer; whom also, is right now, in the process of qualifying for VA Loan with sole intent of purchasing THIS HOUSE!

I`m working out the details now, to coordinate the timing, so that the New Buyer`s Loan does not fund before I finish the work. I do very much realize this house has to meet stringent quality and safety standards as the Loan will be a US Gov. backed Loan.

Closing Instruments and Agents:
First American Title – Klamath Falls, OR  -(Phone number)-  Main Street – Klamath Falls, OR 97601
Phone:  --(Phone number)-- 
Fax  --(Phone number)-- 
Dawn Demarkee-Schmitt

•Non Broker Real Purchase and Sale Agreement
•Note and 2nd Mortgage
•HUD1
•Normal Disclosures and Releases
•Loan Application 1003

Encumbrances:
There is a 1st Mortgage of $20,600.00; Tax Arrears in the amount of $2,000.00.
Seller will pay off 1st Mortgage and Tax Arrears at close and convey a clear title.

Evaluations:
According to the Klamath County Tax Assessor the RMV (Real Market Value) is $55,000.00 in `AS IS` condition and, while its in its `AS IS` condition, it needs about $18,000.00 in rehab, Paint, Floors; Fix-up Materials, New Metal Roof, extra Labor, Permits, Waste Containment and Haul etc.

The `After Repaired Value` (ARV) is $77,000.00

Funding:
1. $29,500.00 to purchase

2. $18,000.00 -Rehab and Repair all inclusive

3. $4,775.00 -Holding costs (Estimated for 9 months but more like six months)

4. 4.$1,000.00 - Closing Costs, Title Insurance (Estimated)

5. 5.Total $53,275.00 or 69% of ARV
I can offer and guarantee to pay a 12% interest with a minimum return of no less then six months.

For accountability of Funds for Rehab I don`t mind opening a separate Escrow account that provides payment upon submission of Purchase Order and Bills for Delivery of Goods. I also need the sum of $1,500.00 Cash Out, at Close, for recoup of start-up operating cash.
I have a Real Estate investment opportunity for which I need funding.

This funding is for the purpose of Purchasing, Rehabing, and Resale of a Single Family Residence w/ 2 Bedrooms 1 Bath and Living Area of 945sq. ft.

Here are the initial particulars and more information is available upon request and level of possibility for funding.<...
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