I helped create 40k in equity

I just had an offer accepted for a client on a house for 63k. Once this house is fixed up it will easily sell for 123k. The REHAB costs are around 20k. He could always keep it and rent it out and put a 15 yr mortgage on the house and he still will have POSITIVE CASH FLOW. If he uses a HARD MONEY LENDER, he will only need about 10k to put into the purchase of the house. Here are the final numbers. 10k now gets him 40k in EQUITY now or potentially 200k in EQUITY in 15 years. That isnt even using a 5% appreciation rate annually.

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This entry was posted on October 7, 2009 at 6:16 am and is filed under wealth creation with tags building equity. You can follow any responses to this entry through the RSS 2.0 feed You can leave a response, or trackback from your own site.

2 Responses to “I helped create 40k in equity”

Eric Says:
October 19, 2009 at 4:06 pm

Could you give me some Hard Money Lenders information. Thank you.

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- gcuffe Says:
  October 19, 2009 at 4:52 pm
  
  good to hear from you. Are you looking for hard money lenders for purchasing properties in CA? or out of state? I have a community bank that is providing rehab money in CA as long as the investor puts 10% to 20% into the whole project. I am trying to buy a bank owned house for 18k in indinapolis right now. will find out in 2 days if they accept the offer.
  
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