SUB TO Deal Mins to Texas City Dike!! | Off-Market

Situation:

• Owner bought this about 4 years ago
• Needs to move to El Paso for work ASAP
• Tried to FSBO
• Worked out a Sub To Deal to get him the money he needs to move

Condition:

• Roof: New Fiberglass w/ Lifetime Transferable Warranty
• Kitchen: New w/ New Fridge, Stove, Dishwasher, Sink, Counters, Floors
• Air Ducts: Replaced in the last 2 years
• AC: Replaced in the last 6 years
• Heating: Gas from 1999 – No reported problems
• All other rooms remodeled in the last 5 years (see pictures)

Financials:

• Amount Needed at Close: $11,000 + Closing Costs
• Monthly Payment: $1,514.89
  • $1,279.93……PITI
  • $234.96………Roof Note from 04/2022 (Carrying $20,000)
• PITI Breakdown: $1,279.93
  • $195.82……Principal
  • $349.75……Interest
  • $220.67……Insurance
  • $184.91……County Tax
  • $211.35……Other Tax
  • $83.31……..Monthly MI
  • $34.12……..Overage/Shortage
• Total Amount to Carry: $163,961
  • $121,948.21……Mortgage (FHA w/ Lakeview at 3.5% due 2052)
  • $21,712.67…….Loan Modification (No Payments, attached to end of loan)
  • $20,300.00…….New Fiberglass Lifetime Warranty Roof Note
• ARV………………$210,000
• Market Rent……..$2,000/mo

Spreadsheet with Proforma Scenarios

• $5,000 EMD and POF due with accepted contract
• Cash or Private Money is accepted, Buyer must close quickly
• Property is sold “as-is”
• DO NOT contact sellers or tenants under any circumstance
• Agents – We work with you! Your Buyer will pay your commission!
• Please perform your own due diligence as scope of work may vary
• Buyer is responsible for closing costs