43 min
Ep 174 How Our Last Deal Transpired And How To Renegotiate The Creative Financing Podcast
-
- Investing
On this episode we talk about the last deal we created offers on. What happened and the lessons learned. The Seller initially accepted the Seller Subordination offer but was confused on the down payment so Jeff had to re-negotiate. Jeff explains why sometimes, it’s not in your best interest to make more offers because the Seller picks and chooses what purchase price they want, with what down payment. Listen closely to find out what happened and how Jeff was still able to get the deal done. And more importantly the lessons learned. Here is the summary of offers-
4 offers.
-Cash $162,220.
-Short term $173,000pp w/20K down. Make the existing payment for 7months.
-All inclusive 200K w/ 8K hybrid interest 2.5% interest. 900/month payment 36 months. $173,327 balloon.
-Seller subordination of $197,000pp, 90K down, owe 107K to Seller, payments 450/m principle only for 4 yrs. Balloon 85,4000. 7% interest only on first mortgage, payment to be 525/month. Cash flow estimated to be 313/month.
On this episode we talk about the last deal we created offers on. What happened and the lessons learned. The Seller initially accepted the Seller Subordination offer but was confused on the down payment so Jeff had to re-negotiate. Jeff explains why sometimes, it’s not in your best interest to make more offers because the Seller picks and chooses what purchase price they want, with what down payment. Listen closely to find out what happened and how Jeff was still able to get the deal done. And more importantly the lessons learned. Here is the summary of offers-
4 offers.
-Cash $162,220.
-Short term $173,000pp w/20K down. Make the existing payment for 7months.
-All inclusive 200K w/ 8K hybrid interest 2.5% interest. 900/month payment 36 months. $173,327 balloon.
-Seller subordination of $197,000pp, 90K down, owe 107K to Seller, payments 450/m principle only for 4 yrs. Balloon 85,4000. 7% interest only on first mortgage, payment to be 525/month. Cash flow estimated to be 313/month.
43 min