SubTo Deal 🎯 5% Interest Rate 10% Entry Fee

20278 Willow Ln, Montgomery, TX 77356

🏠 Property Info

·      Single-family

·      3 Bedrooms / 2 Bathrooms

·      1,114 sqft

·      Condition: Turn Key

·      HOA: Yes, STR allowed

·      LTR: $1,450

·      Attractions: Lake Conroe (8mi), Conroe Colleges & Army Reserve (23mi)

💰 Purchase Info

·      Purchase Price: $223,389.15

·      PITI (Mortgage payment): $1,684.15

·      Entry Fee: $22,599.87 + CC

·      Closing Date: 01/31/2024

➡ BEST EXIT STRATEGIES:

·      STR (CoC 40%)

·      MTR & Section 8

·      Will not cashflow as LTR

📝 Mortgage Details

·      Existing Loan: $200,789.28

·      Loan Type: FHA

·      Interest Rate: 5.625%

·      Maturity Date: 6/2052

💰 PITI Breakdown

·      PITI: $1,684.15

o  Principal: $236.62

o  Interest: $939.00

o  Taxes/Insurance: $508.53

·      HOA: $4/month

·      Total Payment: $1,688.15

⛔️ Entry Fee

·      Arrears: $6,816.62 (includes Jan 2024)

·      Cash to Seller: $3,500

·      Cash to Agent: $6,283.25

·      Assignment: $6,000 (Negotiable)