Norman Oklahoma Owner Carry Condo Project

2009 is finding the mortgage industry without good loans for investors. Fannie Mae has reigned in the number of properties financed to 4 total, and no company wants to back 10% down conventional investor loans. We have an answer. The East Village is a new condo project just over a mile from the University of Oklahoma. That state school is well endowed and growing, and college towns have a regular turnover of renters, so it is not related to how the job market is doing. With the loss of jobs in the U.S. this is an important point for investors because vacancy really reduces the return on investment. Right now we are offering one and two bedroom condos and lofts, and we also have three bedroom town homes with 2 car attached garages. The prices start at $78,600 and go to $180,000. Two four story buildings are up and fully rented, with a third building about to start. 16 town homes are available with 16 more under construction, and 16 will be started at the end of the year.

Then good news is that if an investor buys a unit, it is already rented, and their is no upfront management fee which saves you 87% of the first months rent. Monthly fees are 7%, and an HOA fee is based on the size unit. The financing is being done by the owner. The unit you buy will be conveyed to you free and clear of any liens. down payments start at 30% down at 7% interest, 30 year amortization schedule, and a 5 year balloon. No fees are to be charged. Cash flow is excellent and you can see breakdowns by emailing us at joe@joepryor.com, and we will send you the breakdown. We believe that waiting for the financial market to loosen up is in your best interest right now to go with owner financing. This is available to any investor outside the country, as well as U.S. citizens and residents.