Tommy Dobczyk walks through buying a $2.1 million property with seller financing and minimal down payment, then renovating it into a wedding venue or condos to boost its value to $6-9 million. The seller approves the work and keeps equity while the investor profits from the renovation and resale.
Again, you're selling it at a $6 million to $9 million project now because you're going to do all the work to get it there.
So we talked to GPT or Deal Hunter about that.
We did a little bit. So if you can negotiate with the seller, say, listen, I'll give you $2.1 million. You got to carry a note for, for 2 years. You're in, you're putting in amount of money is going to be really low because you're just doing a small down payment and monthly interest. Right. And then on the flip side of that, you're getting the work done there to get it approved for whatever you're wanting. It to become, right? Right. Whether it's a wedding event venue or, or a, a 18-unit condo build-out, which by the way, they would only allow you to build out on, on the back piece or the front piece, but you're getting the seller to approve you to do all that work, do all that paperwork. It becomes worth $6 or $9 million, and you list it at $4 to $7 million, $2 million under, so they got equity, and then you just do the work for them, let them pay for