For John Behle - Posted by Dave R

Real Estate Investing
1

Posted by daver7 on March 22, 2000 at 09:52:22:

Thanks John (nt)

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For John Behle - Posted by Dave R

Posted by Dave R on March 19, 2000 at 01:24:33:

John, I am the proud owner of your paper game trilogy and I want to run a scenario by you.

Here’s the deal, Luxury condo $83,000 balance on note. VA loan(qualifying). Probably worth around $85,000. Would rent for around $720 per month. Is this property a candidate for the “split wrap”, and if so, how would you structure it?.

Many thanks

Dave R

3

Possibly - but probably not. - Posted by John Behle

Posted by John Behle on March 21, 2000 at 23:37:23:

Without knowing the rate of the VA loan, and what the local market would bear in a “re-sale rate” - I can’t say. You would need at least a 2-3 percent spread to make it fly and worth your while.

Most split wrap examples involve assumable loans. There’s a couple more expenses and hurdles to deal with if you are dealing with non-assumable (or qualified assumption).

Some cases are simple enough to just set up an account in the seller’s name and do an electronic payment.