07/04/2023
We're currently in the market to purchase more investment properties. We are trying to prioritize on preforclosure subject to and/or seller financing contract deals with low to no down payments with low entry fees.
If you need to sell your home quick or are going into forclosure contact us now!
1. Pre Forclosure with longer than 2 weeks away from auction (We can stop the forclosure if you agree to our terms of us purchasing the property) *This is the last chance before you are forclosed on*
2. Divorce
3. Job relocation
4. Death of the owner
5. Seller just wants OUT
6. Tired landlord that wants to act as a bank for true passive income
7. Low equity, after paying realtors, appraisal fees and mortgage balance causing the seller to actually come out of his own pocket at closing. (We don't prefer these kinds of 0 equity deals, but would look at them).
What we are looking for are creative financing deals/properties, around 30% below AVR and a plus would be 10+ years already in your current mortgage.
If your not considering this creative financing/purchasing (subject to/seller finance) already, I highly recommend researching it and you will see how much it benefits you and saves you cash vs cash buyers, realtor fee's, closing costs and appraisal fee.
Subject to is where we legally take over your current mortgage for you and the deed is transfered to us at closing. A servicing company will make the payments for us just as a bank uses a service company for your current mortgage payments.
The benefits with "subject to" financing is, no realtor fee's, no closing costs, save your credit report from a forclosure, builds your credit report, faster closing, possible money in the seller pocket that you would never get when you are forclosed on. There are many other benefits!
Seller financing is where we "subject to" your current mortgage, and if there's some type of down payment that your asking for or if theres alot of equity and you want some type of cash over time. You finance it to us and we make payments every month to you ontop of the current mortgage payments. This is a way for the you to create true passive income and you act as like a bank. If you have kids or grandkids this passive income can transfer to them. It also can be very tax friendly for the you since the payments are spread out over time unlike an all cash offer or traditional sale were you would recieve a large tax bill for any profits made from a traditional sale that year.
Buy Box:
3+ BR SFH, Duplexes, Multifamily and Apartments. Turnkey preferred or cosmetic fixes. If it makes sense/dollars we're interested!
We'd love to get any listings on and especially off market, in Wisconsin! Preferably in desirable Milwaukee zip codes and surrounding areas within 1 hr drive of Milwaukee, since we self manage our properties. We will consider any other state/county that allows Airbnbs. The out of state deals will need to have the seller provide a proven STR airbnb track record that cash flows (net) well.
Send them deals to our email [email protected] and let's make some money! Or DM
Dead deals as well that haven't been given this financing opportunity. (Make sure if its a wholesaler you are direct to seller, we are not doing a daisy chain deal). If your already working with a realtor send them our info for a underwrite and possible Purchase Agreement/LOI (Realtor will be paid)
Sincerely,
Ken Krueger
MKE Deals LLC
[email protected]
