Commercial Lot Charlotte, NC Sub To/Seller Finance

880,000 𝗣𝗼𝗽𝘂𝗹𝗮𝘁𝗶𝗼𝗻

** 𝗔𝗹𝘀𝗼 𝗪𝗶𝗹𝗹𝗶𝗻𝗴 𝗧𝗼 𝗣𝗮𝗿𝘁𝗻𝗲𝗿 𝗪/ 𝗣𝗠𝗟 𝗼𝗻 𝗧𝗵𝗶𝘀 𝗗𝗲𝗮𝗹. 𝗣𝗠𝗟 𝗯𝗿𝗶𝗻𝗴𝘀 𝗶𝗻 𝗖𝗮𝘀𝗵 𝘁𝗼 𝗖𝗹𝗼𝘀𝗲. 𝗣𝗠𝗟 𝗥𝗲𝗶𝗺𝗯𝘂𝗿𝘀𝗲𝗱 𝗯𝘆 𝗪𝗿𝗮𝗽 𝗕𝘂𝘆𝗲𝗿. 𝗣𝗠𝗟 𝗦𝗽𝗹𝗶𝘁𝘀 𝗙𝘂𝘁𝘂𝗿𝗲 𝗖𝗮𝘀𝗵 𝗙𝗹𝗼𝘄 𝟳𝟬/𝟯𝟬**

𝗣𝗥𝗢𝗣𝗘𝗥𝗧𝗬 𝗗𝗘𝗧𝗔𝗜𝗟𝗦 :

– Purchase Price: $300,000

– Charlotte, NC (28262 Zip Code)

– General Commerical Lot

– Has Railroad Easement (buildable land not sufficient for building)

– LTR Rates of $3000-$4000

– Best Use For Small Towing Company/Impound Lot

– May be able to put a container as an office and operating a car dealership on this lot

– Billboard generates $4000/yr through 2028, starting 2029 $5000/yr

𝗦𝗨𝗕𝗝𝗘𝗖𝗧 𝗧𝗢 𝗗𝗘𝗧𝗔𝗜𝗟𝗦 :

– 180 Month Seller Finance 1st Mortgage

– Loan Type : Seller Finance

– 17.9% Interest Rate

– Subject To Mortgage Balance of $58,326.17 (As of 11/1/23)

– No early payoff unless payment done in full

– PI on Mortgage is $960.34 + $20 service fee (PI Total $980.34)

𝗧𝗘𝗥𝗠𝗦 :

– Seller Finance: $166,673.83 @ 6% interest, 2 year balloon on 30 yr amortization

– Monthly Payments $999.29

– Cash to Close of $85,000 + Closing Costs + TC fee

– Cash to Close Breakdown : Entry Fee $75,000 + $10,000 Agent Commission + CC + TC Fee

𝗘𝗫𝗜𝗧 𝗦𝗧𝗥𝗔𝗧𝗘𝗚𝗬 𝟭 (𝗘𝗫𝗔𝗠𝗣𝗟𝗘) :

– Wrap Purchase Price of $500,000 (Example)

– Wrap Down Payment of 20% (Example)

– Wrap Interest Rate of 7% (Example)

– Wrap Amortization Schedule of 30 Years (Example)

– Wrap P&I Monthly Payment of $2,661.21 (Example)

– Wrap Monthly Cash Flow of $681.58 (Example)

𝗘𝗫𝗜𝗧 𝗦𝗧𝗥𝗔𝗧𝗘𝗚𝗬 𝟮 (𝗘𝗫𝗔𝗠𝗣𝗟𝗘)

– LTR Average Monthly Rate of $3,000 (Example)

– LTR Net Cash Flow After PI and Seller Finance: $1,020.37 + $333.33 (BillBoard Income thats paid Yearly)(Example)

𝗦𝗨𝗠𝗠𝗔𝗥𝗬 :

– Subject To Mortgage Balance of $58,326.17 (As of 11/1/23)

– 17.9% Interest Rate on Subject to exisiting loan (145 months left)

– Seller Finance: $166,673.83 @ 6% interest, 2 year balloon on 30 yr amortization

– Monthly Payments $999.29

– Cash to Close of $85,000 + Closing Costs + TC fee

– Cash to Close Breakdown : Entry Fee $75,000 + $10,000 Agent Commission + CC + TC Fee

** 𝗔𝗹𝘀𝗼 𝗪𝗶𝗹𝗹𝗶𝗻𝗴 𝗧𝗼 𝗣𝗮𝗿𝘁𝗻𝗲𝗿 𝗪/ 𝗣𝗠𝗟 𝗼𝗻 𝗧𝗵𝗶𝘀 𝗗𝗲𝗮𝗹. 𝗣𝗠𝗟 𝗯𝗿𝗶𝗻𝗴𝘀 𝗶𝗻 𝗖𝗮𝘀𝗵 𝘁𝗼 𝗖𝗹𝗼𝘀𝗲. 𝗣𝗠𝗟 𝗥𝗲𝗶𝗺𝗯𝘂𝗿𝘀𝗲𝗱 𝗯𝘆 𝗪𝗿𝗮𝗽 𝗕𝘂𝘆𝗲𝗿. 𝗣𝗠𝗟 𝗦𝗽𝗹𝗶𝘁𝘀 𝗙𝘂𝘁𝘂𝗿𝗲 𝗖𝗮𝘀𝗵 𝗙𝗹𝗼𝘄 𝟳𝟬/𝟯𝟬**