Per my daughters' tender loving care instruction, I just sold my last two properties in Hill countries of Texas and prepare to buy a home in Arizona or Socal to be close by them.
I end up with two secured NOTEs (Contract for Deed) and a 2004 unused 18K white gold Rolex watch.
First note with $60,000: I received the first two payments of $645 on time. It is secured by a 1988 double wide manufactured home (4br, 2ba, 2128 sqft) with half acre lot.
You can have 10% interest or more and sleep well at night because it is considered as safe as your bank CD, particularly in this housing appreciation state (Texas in one of three states that saw housing price appreciation among 50 states last year. real-estate. Killeen area housing price is up 2.51%. Here, we has a situation that is VERY DIFFERENT from Florida or California.)
How much you are paid by your friendly banker? 3% interest a year or ... So how much you could be paid a month if you had a CD deposit of $60,000?
This is an opportunity for you to get paid for 10% interest with very secured real estate note.
Welcome to any reasonable offer for your benefit. But, please keep in mind that I am a retiree and the owner of this note, very happy with the cash flow and like my buyer/ payor so that I am not in desparate need to cash it out.
I will response to a principal only. No so-called "bird-dogs", or middle man please.
Interest Rate Fixed/variable: 10% fixed
Mothly Payments(Prin & Int): $644.76
When Originated: 01/08/2009
Building Type: Double Wide with half acre land
Current Principal Balance apprx. $60,000
Down Payment Made: 12,000
Original Balance: $60,000
Balloon due date: 03/01/2019
No. of payments left/balloon if any: 118 (Right before buyer moved in, they paid an advance of partial payment. After that, I received another two monthly payments on time.)
Balloon balance: $30,000 +/-
Occupied By: Buyer/ Payor as his prime residence
Type of Loan: Agreement for Deed
Current Value of Property: Zestimate: 108,000 by zillow.com
Description of Real Estate/Borrower/Financing Terms including any Balloons/Prepayment penalties/Late charges
Principal of $60,000, payable monthly of $644.76 or more, at Ten percent fixed interest rate (with 15 year amortization schedule).
The unpaid balance will be due in 10 years.
Property taxes and home hazard insurance paid by Vendee.
The property as security is 1998 doublewide manufactured home with 1/2 acre residential lot. It is a county property in the fastest growth path, just one block south of city limit of Killeen and City new police headquarter (still under construction).
The underlying secured property is NOT in the city of Killeen by the jurisdiction. It is in the Bell county. Therefore, the homeowner can enjoy his country living setting in a very safe and peaceful family neighborhood. With all the city life nearby (about 3 miles away), there is No city property tax and expensive utility charges.
2nd note with $73,000: I will receive the first payment of $700 in the 1th of June. It is secured by a 1988 double wide manufactured home (4br, 2ba, 2060 sqft) with half acre lot.
The Rolex Men's Watch: It was made in 2004. I was told and checked the whole store package to believe it is in a bank safe since bought. Please see the picture. It is a day-date president oyster.
I am considering to trade one or all of them for a house in Arizona, preferably in Phoenix. or SoCal.
If interested, contact me.