“lonnie deals” - Posted by Chad Carver
Posted by Chad Carver on December 02, 1999 at 13:39:11:
Have 2 Lonnie deals that I need help with.
1973 3/2 with 1300 sq ft. Purchasing for $2,750 and needs about 2-3K in repairs. (floor, floor coverings, some roof work, and some paining.
1986 3/1.5 with 840 sq ft. Purchasing for $4,500 and only needs a good cleaning of the carpets to be ready for resale.
I would like to offer these on terms for 1K down or so. My question is, what is the best way to structure my note for maximum value down the road.
12K sales price
60 month term
If these were the terms on each of the deals, What could I reasonably expect to get on the discounted notes?
Sorry this is so long, but I wanted to get you all the info I could.
Any help is always appreciated.