Owner Finance Properties, Business for Sale for sale in Chambersburg, PA
This LLC started in Jan 2008. We are a real estate investment company. We started by buying property and then owner financing it to the end buyer and charging 10% APR interest. We bought small affordable homes usually and then sold at a profit using owner financing. We now deal solely in land contrct sales. We have accumulated $200k in properties. New owners can successfully manage as they desire including as much diversification as desired. All types of advisory materials, contracts and equipment are a part of the business and transfer with this Ll C. There one 2 managing partners in the LLC: One who finds, purchases, repairs, surveys, and then sells the properties. The other is the bookkeeper and keeps track of everyone's payments, taxes, and insurance. We currently bring in approximately $4.5k/mth and have a debt service of $1.3k/mth. Our current total debt is roughly $160k and should be completely debt free in less than 3 years. However, when we sell the LLC, we will pay off all the current debt and the new buyer will own the debt-free company (collecting month mortgage payments plus interest. ) Exception will be the option of continuation of the 45k mortgages with the present bank. Of course, the new owner will also be free to add wholesale purchased properties of their choice and to there by increase the income exponentially if desired. Most of our seller financed mortgage notes/contracts are 30-year mortgages with 10% interest rates. With most of our mortgage notes only being a few years old. If there are any questions I can help answer, please let me know.
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