Performing Note Deal *FUNDED* – Kalamazoo, MI
EDIT: This deal is closed and has been FUNDED
My name is Paul, owner of Black Arrow Assets. I've been in Real Estate full time for year now and was able to make over 6 figures in my first seven months of business! Feel free to check out my website at www.blackarrowassets.com
This deal that I am buying is a Real Estate Note deal. What that means is that I am not purchasing the property itself, but the LOAN secured by the property.
The homeowner currently living inside the property has been making her payments on time every month for almost two years. It is that payment stream that I will be collecting as cashflow. If she stops paying, then I have the ability to foreclose on the property to still turn a profitable deal.
Here are the numbers.
Loan balance: $89,000
Property as is value: $100,000
I am buying this note for $65,000.
Monthly cashflow: $789
The property was renovated in March 2020.
If you're looking for a conservative deal with a steady returns, I would love to connect with you!
I will hold this asset for two years. After two years of collecting payments, I can sell the note to return your principal. I may cash you out myself at that point to hold this for my personal portfolio.
This is not a huge value add, sexy deal. This is a steady, performing asset with a great track record that I am buying at a discount.
I'm looking for funding for this deal of $65,000 at a 6% return. The deal timeline is two years.
Here's a quick video breakdown of the deal: https://youtu.be/Oc7RHiJQyd4
I am happy to go over all the details with you. Send me a message!