💰 Immediate Cash Flow from Day One! - Start collecting $1,150/month in rent from day one — this property is already leased and generating strong, stable income. - With 30% down and owner financing at 3.97% for 5 years, you’ll enjoy immediate cash flow and long-term equity growth while your tenant helps pay down your investment. - Estimated monthly loan payment around $1,470.60, giving you a solid investment that balances income and appreciation. 💼 Already rented! Tenant in place paying $1,150 monthly, instant cash flow from day one. - Central Pratt – 3BR Home with Income Potential (Suitable for Buyer with Minor Updates) - Located in the Central Pratt neighborhood of Birmingham, this 3-bedroom, 2-bathrooms home was built in 1925 and offers roughly 1,358 sq ft of living space on a 6,000 sq ft lot. The property is currently off‑market, but has a rent estimate of approx. US$ 1,150/month, indicating good income potential.
- – As-Is Sale: Property is offered for sale “AS IS, WHERE IS.” Buyer is responsible for all inspections and due diligence prior to purchase.
- – Closing Costs: Closing costs are not included in the sale price and must be paid by the buyer.
- – Attorney Fees: All legal fees are paid directly to the attorney. Typical attorney fees are approximately $1,000.
- – Assignment Fee: An $800 Assignment Fee will be added to closing costs and must be paid by the buyer.
- – Financing Options:
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- * Fix & Flip → 10% down payment with a 5-year term.
- * Rent-to-Own and Ready-to-Rent → 20% down payment with a 5-year term.
- * Currently Leased properties → 30% down payment with a 5-year term.
- * A closing fee of 2.5 points or $2,500 minimum (whichever is greater) applies to all financed purchases.
- * All financing is processed through a third-party lender. The underwriting process—performed entirely by that lender—will determine buyer qualification and provide a complete breakdown of all fees prior to closing.
- * The Seller and QuitClaimIt have no involvement or decision-making authority in the underwriting or approval process.
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- – Tenant-Occupied Properties: Some properties may be sold with existing tenants. Seller will provide records of rental payments received up to the month prior to closing. However, Seller does not guarantee future rental payments, tenant performance, or continued occupancy after the sale.
- – Currently Leased Properties: Properties that are currently leased are available with two purchase options:
- * Cash offer, or
- * Financing with a 30% down payment and a 5-year term, subject to third-party underwriting review and fee breakdown.
- – Ready-to-Rent and Rent-to-Own Properties: Properties that are vacant and ready for rent offer two purchase options:
- * Cash offer, or
- * Financing with a 20% down payment and a 5-year term, subject to third-party underwriting review and fee breakdown.
- – Redemption Period: Properties are either within the redemption period or past the redemption period under tax deed rules.
- * If the property is still in the redemption period, buyers must confirm with Seller how much time remains and whether Seller has possession of the property.
- * If the redemption period has expired, the next step is to initiate a quiet title action (clearing the title) in order to obtain full marketable title.
- – Seller Possession: Most of our properties are currently under Seller’s possession, and their redemption periods have already begun.