Uncategorized « Gentry Realty

This single family residential home currently has a lease purchase option with a lease amount of $1,200 being paid. With current interest rates on loans at the purchase price this home is going to produce a monthly positive cash flow as it does now. The properties neighborhood is in in Circle Cross Ranch which is one of the highest valued communities in Queen Creek. In the neighborhood there is schools, shopping centers and ingress and egress are better than average. There is also a large sport facility within walking distance of the home which has volleyball, basketball court, playground equipment, etc. The home has lots of upgrades such as: Upgraded Cabinets, flooring, epoxy flooring in garage, vaulted ceilings, upgraded fixtures, fans, etc.

Call me today if you are interested 480-248-0209 or email me at elliot@gentryaz.com

Download Property Profile (click here) Queen Creek Info (click here)

Address: 1303 W. Matthews Dr Queen Creek Az 85243
Purchase Price: $160,000
Details: 3 Bed / 2 Bath / 1550 sq ft / Built 2007 / Vaulted ceilings / Many Upgrades
Current tenant pays: $1200 monthly w/ option to purchase @ $195,000

We have just been assigned to handle the lease to purchase program for Monaco (San Simeon). This project is in its final close out and we have 5 units that we are offering.

You will be required to enter escrow with a contingency that they will have a lease tenant that will eventually (within 6 to 12 months) purchase the condo form you at a 7% increase from the price you paid. The return to you is in the mid 20% cash on cash (see attached spreadsheet). This program works because it insures that your have an exit strategy to the purchase. This investment comes with the following aspects:

1. Developer will guarantee rent for a period of one year at 8% of the total purchase price.

2. Developer will pay all HOA for a period of one year.

3. Developer will manage the property for free for one year.

4. Developer will warrant the condo against any mechanical defects for one year.

5. Investor is placed in a priority position for all future deals.

6. Investors re-invest time and time again because of the success. (creating residual income for the agent)

Before you close you will have a tenant and a purchase contract from that tenant to purchase the unit once they qualify. Historically the tenant qualifies 85% of the time. If the tenant does not qualify they are evicted and another tenant is put in their place.

There are a limited number of units available. This program works and has been in existence for over 7 years.