Buying Just the Paper on a House

We’re here at 1332 Dayton Avenue in St. Paul right over by lovely Concordia University.  This house was bought by and financed by another hard money lender.   When the buyer didn’t pay, the hard money lender foreclosed on the property and called me to see if I’d like to buy the paper on this house and we came up with a deal.

During that time St. Paul, category 3, red flags but I bought it anyway because I understand that process with a vacant building.

We get the property back.  I don’t typically fix houses so I call my buddy, Mike Ronea,  to see if he has someone who can do the work.  We joint ventured, got a contractor, got approval from the city for a category 3.  Now we are fixing the property and getting it ready to sell.

Another problem solved.

Hendrie Grant Makes
Hard Money Easy