Main Place Homes

New property under assignment investors/wholesalers/fix&flip get it while it last.

Hi All!

Got a new property in San Antonio TX! Property has 2 year old flooring, 2 year roof, 2 year old AC system, revamped utility room, redesigned master bathroom and closet. Storage room that connects to the two-car garage and a two-car carport. Renovated less than 2 years ago. The home is 1 mile down the street from St. Mary's University and 2 miles from OLLU. Less than 20 minutes from JBSA-Lackland(United States military facility). 15 minutes to the San Antonio Zoo and Aquarium. 10 Minutes to Methodist Hospital, Baptist Medical Center, and multiple other medical facilities. Property would make a great Wrap, STR or MTR. Does not cashflow as an LTR. But go hands off and turn this property into a WRAP selling off to a homestead buyer that cant qualify for traditional lending. Get over $700 a month net cashflow and turn into a wraplord instead of landlord.

Property details: 2 Beds 2 Baths | 1440SqFt. | 1930 Year Build

LTR: $1.5k-$1.7k rentcast, zillow rental
MTR: $2.5-2.7k Furnishedfurnishedfinder
WRAP: $2.5k-$3k Wraparound mortgage at 9%-11%
STR: $2.5k-$3k awning, airbnb, vrbo $130-$160 ADR 60% occupancy

Purchase Price: $269,000.00
Remaining balance on mortgage: $226,615.70
Solar Lien balance: $44,331.56

Cash to seller: $10,000.00
Assignment fee: $15,000.00
Total Entry Fee: $25,000 + Closing Costs + $500 TC Fee

Mortgage Payment: $2,147.15
PI: $1,026.22
TI: $1,120.93
Interest Rate: 3.25%

Solar Payment: $178.37
Interest Rate: 2.99%

TOTAL Monthly Payment: $2,325.52

COE: 11/22/2023
EMD: $5,000.00
Buyer Pays Closing: yes
Property Vacant at Closing: yes

Pictures: DM me