New Windows. i have a great window company in L.A.
The rehab is going Way too slow. The contractor is too busy to stay on my job only. It’s a good thing we are not paying a hard money lender. The seller owner financed so i have her a small downpayment and i will give her the balance in one lump sum when i re-sell.
This is the best way to create the deal- especially if you are taking over a loan subject to and their equity is in 2nd position. You explain to them about the time value of money. That means that the longer they wait for the money, the more they will get. If they are going to owner finance forever, i don’t need any discount at all. I will make my profit from the monthly cash flow.
