Mastermind Deal Analysis · SuperHuman Wholesalers

Apr 18 (edited) in General Mastermind Discussion

Mastermind Deal Analysis

I'm curious to know what the community thinks about the below deal we're working on currently. I was intrigued by Tony's presentation last week on how he approaches potential sub-to/seller finance opportunities. Here's the breakdown:

Lead type: Probate

Description: 4/2 Rambler with a detached garage

POC: Personal Rep; probate completed and bonded with letters of admin (Widow of deceased)

ARV: $500-$520k (Super hot area with average DOM 7 days)

Repairs: $50-60k

Amount owed: PR originally thought it was $260k but payoff came in at $364,900

Wholesale offer: $285k initially which was accepted until payoff came back much higher

Mortgage: $1,350 (P&I)

Interest: ~3.28%

Loan Refinanced in October 2019 into a 30yr fixed with a non-interest bearing ballon payment of ~$100k

Rental Rates: $2,100 - $2,100 with average listed days of 10 days (Potential cashflow of $600-$700/mo)

This should be enough info to think through potential options. The seller is open to sub-to as long as she walks away with $20k or so. open to a short-sale, open to a cash offer as long as she walks away with $15-$20k, open to a novation as well with the same terms. I'm curious to know how you all would structure a deal given this!

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