In September 2017 I sent out yellow letters to 17 cherry-picked 10+ unit properties, and one of the properties happened to be owned by my private lender. I sent her the yellow letter to get her opinion on what she thought about it but never did I think she was going to sell the property. A few days later I called for about funding for a deal, and before I could ask her, she told me she got my letter, decided to sell, and that she was just finishing her letter to 8 investors, including me, about her giving us the opportunity to purchase the property. Within a week, she and I had struck a deal, and closed on the property in November 2017. I like this property because they are higher end, town home style rentals within 4 minutes of a medical college. The rents were extremely low, and the property needed some sprucing up to maximize the cash flow.
How did the FortuneBuilders team and resources help you to accomplish this deal?
I used the Fortune Builders rental analyzer, and created about 8 scenarios around different financing structures and current and projected cash flow. I was able to use the side by side comparison to quickly determine how I needed to proceed in order to make the deal a win-win for my lender and I.