Mortgage Info:

✅ Purchase Price: $405,491 💵

✅ Mortgage Type: FHA

✅ Mortgage Balance: $394,491

✅ Interest Rate: 3.125% 💸

✅ PITI: $3,377.33

Transaction Details:

✅ Assignment Fee: $15,000

✅ Cash to seller: $11,000

✅ Cash to agent: $8,000

✅ TC Fee: $1,200 📝

✅ Total Entry Fee: $35,200

✅ 8.68% Entry Fee

Additional Details:

✅ Seller 6mos behind

✅ Loan modification of $25,810 and will go on 2nd Position

✅ 6month minimum lease for tenants

✅ Appeal going on for lower taxes starting beginning of the year

✅ COE on 11/29/2023

✅ EMD: $5,500

Possible Exit Strategy:

✅ Wrap

✅ Padsplit

✅ LTR (Doesn't cash flow)