Monday, September 8, 2014

Something A Little Different That We Haven’t Seen Yet…

Hi Everyone,

This week we are going to have guest speaker Jeremy Vogan from Countryside Service Company, LC. He will be talking about something a little different from which we typically see.

Jeremy called me about a month or so ago wanting to present a real estate related business opportunity to our group. From what I understand, this company is a large builder who had spec homes for sale and got caught holding too many when the bottom dropped out.

Essentially what they are doing is unloading all of their property in a creative and unconventional way. The sales price of these properties is set at full market value. What they are offering is the ability to owner finance them with only 10% down.

They then act as the property manager and continue to work with the tenants in the currently leased house so it’s a hands off investment for you.

REI is not endorsing these people. We are simply letting them come and offer their product and services. You have to do your own due diligence and determine if it is a good investment for you or not.

Things to consider would be:

Will the property cash flow? If not what would you have to chip in to cover the mortgage to them with only 10% down.

Are you rolling the dice on appreciation only or will this be a solid investment that you will profit from?

What kind of contractual agreements can be thrown in to sweeten the deal to make these properties at least break even so they can be paid off over the years by the tenants. Possible suggestions would be no cost property management, no cost maintenance, etc.

Come on out this Tuesday. This should be an interesting meeting.


Post a Comment


Real Estate Investors of Virginia. Copyright 2009 All Rights Reserved