34 days
til....
Pete Fortunato and Bill Cook teach their Deal-Structuring
Course, WHAT BOX? at the Atlanta Airport Marriott on September
15th & 16th, 2018.
At What Box? The Seminar, one of the deals you'll see is the amazing structure of the pending sale of Bill & Kim's Horse Ranch (due to close at the end of August)
I’m sure you’ve found yourself in this situation before……..
Bill & Kim’s 34 acre horse ranch is listed for $497,900, but the interested buyers can’t purchase the ranch
until they sell their current home. Bummer. How many times have we all been in this position?
So Bill…..being the deal-structuring nut he is, sat down with the buyers to discuss their situation and find out what
they could do.
It was discovered that the buyers could qualify immediately for a $300,000 mortgage. So Bill & Kim agreed to sell their ranch for $300,000. Yep, you heard right! They are selling their ½ million dollar horse
ranch for $300,000!
But, though they agreed to sell their ranch for $300,000, Bill also structured the deal which gave him an option to buy the ranch back anytime in the next 40 years for
$300,000. Sweet!
However, the buyers want to enclose two of the pole barns so they can run their big crane business from the ranch. They also want to widen the driveway and build their son a home on the property sometime in the future. So why would they agree to buy a house at a
discount, do all those improvements, then have to sell it back to Bill for the same $300,000?
Oh wait,…..the deal gets more exciting!
Bill gave the buyers the option to buy back his option anytime in the next 365 days for $197,900. Yep, though they are parking $197,900 for a year, Bill & Kim will get their full list price for the house.
But ahhhh, my brilliant investor friends…..the deal doesn’t end there!
Bill & Kim have a $500,000 mortgage on the property. They would need to bring around $200k to
the closing, right? Nope. The buyer’s lender had to pick her brains up off the floor when Bill told her that he would be walking the $500k mortgage to one of their $150,000 rental properties. Yep. The buyer’s lender had a hard time understanding that one!
There are a lot
of interesting structures regarding the purchase and the eventual sale of Bill & Kim’s Boyd Mountain Ranch. All of which will be discussed at September’s What Box? Seminar. From purchasing Subject to in 1999, to putting the ranch into a trust for asset protection, putting it into conservatorship to lower taxes, to getting and walking a $500,000 mortgage, to selling the farm for $300,000 with a buy back option. It’s wild and crazy deals like this that you will
hear at the What Box? Seminar.
What Box? The Seminar helps you see the different ways you can creatively construct a deal without using institutional financing. What Box? helps you realize that, when it comes to real estate investing, there is no box. Everything is Possible!
What Box? The Seminar with
Pete Fortunato and Bill Cook is a gotta-be-there event in Atlanta on September 15th & 16th 2018 at the Atlanta Airport Marriott. Bill & Pete's What Box? Manual is filled with one interesting deal after another - showing how they found the opportunity, structured it, and put the paperwork in place to secure
it.
Join us for an incredible weekend with two of the most experienced investors in the country – Bill Cook & Pete
Fortunato.
Don't delay......this class is filling up!
Hope to see you there. Call Kim Cook at 770 815-8728 for more details register online or simply email the registration form to Kim@CashFlowREI.com
