Sunday, February 17, 2008

OWC Big Time

Pure marketing and financial genius. If I had a spare house or twelve lying around I'd be doing the same thing. Enjoy a master practicing their craft.

The agent page.

Custom Terra Bella single story home on one acre. Grand in scale and beauty. The entrance greets you and your guests with a welcoming and warm feeling. Recently installed walkway,walls,pilasters,lights,pillars, decorative stone and a water fountain. Interior has been painted, travertine floors have been added in the entry, and other rooms. New Bathroom cabinets,sinks and faucets have been recently added. Kitchen cabinets have been refinished. All the appliances stove, microwave, oven have been replaced. Fabulous kitchen with center island and separate breakfast area, with view of pool and yard. All the carpeting has been replaced. Large patio area, with pool/spa, Bar-B-Q area and fire pit with seating. The Guesthouse has a private entry and features full kitchen, great room, bedroom and bathroom. Tri-level yard has room for tennis court or horses.

$1,545,000. So far so good? Now the bait: "Owner will carry 90% for 3 years at 5.5% Interest Only."

Inspired! Think about it. As the seller you get $150,000 upfront and $7700/month for 3 years at the end of which you get the house back or another $1.4m. Win-win as is oft heard on these pages. Think deeper and you realize what is being described is a savvy homeowner making a LEAP investment on the future value of their asset. But that's not all. the terms are, to say the least, extremely generous on the front end for the seller. What a great money to make on the way down.


segfault said...

Looks like I lost my CHC account due to inactivity. Sucks, because I was jonesing for a Casey update.

Also: First?

unbelievable said...


You need a Casey update? Casey is still a looser.

Did that help?

segfault said...

Yes, I like to check in on him every month or so.

I guess the fire pit on the listed house is for roasting the buyer?

Anonymous said...

Where do I sign? :P

Norka said...

Can we hear a big round of applause for Uncle Slayton?

He's cut that corner pasture into acre lots`
He sells 'em owner financed
Strictly to them that's got no kind of credit 'Cause he knows they're slackers
When they miss that payment
Then he takes it back

Anonymous said...
This comment has been removed by a blog administrator.
Anonymous said...

It is a far, far better scam
Than I have ever done
It is a far, far better jest
Than I have ever known.

It was the best of times,
It was the worst of times,
It was the age of wisdom,
It was the age of foolishness,
It was the epoch of belief,
It was the epoch of incredulity,
It was the season of light,
It was the season of darkness,
It was the spring of hope,
It was the winter of despair,
We had everything before us,
We had nothing before us,
We were all going direct to heaven,
We were all going direct the other way
In short, the period was so far like the present period,
That some of its noisiest authorities insisted on its being received, for good or for evil, in the superlative degree of comparables only.

Lou Minatti said...

Looks like I lost my CHC account due to inactivity.

I think I did, too.

Whenever Casey does something he seems to clear it through Nigel first. I bookmarked DHC and check it every week or so.

Rob Dawg said...

Nigel is dipping his toe into the big kid's pool posting a few times at CalculatedRisk recently.

w said...

I saw a poll that showed Obama in first and Clinton second in European polling. McCain was third. I wonder what the correlation of European polling vs. actual results is? I bet McCain wins, further twisting their bikini underwear in a knot.