The owner, Tyler Robertson with Benton Real Estate LLC is selling a portion of his property's equity on the Lofty Marketplace.
The property has a loan balance of $177,409 and the lender has approved the owner to sell their equity. The loan documents can be viewed here. The seller must continue to make monthly payments on their loan balance, as the lender has first lien on the property. Investors on Lofty do not pay a portion of the debt payments.
The Rental Yield of 29.5% is based on the value of $37,591 (Total Investment Value - Debt). As the seller pays down their debt over time, their equity percentage in the property will increase and the equity percentage of Lofty investors will decrease proportionally. As a result, the Rental Yield for investors on Lofty will decrease as the debt is paid down. The owner plans to pay down the entire loan with the proceeds from selling equity. The Rental Yield once the loan is fully paid off is projected to be 6.45%.
Click here to learn more about how property owners sell partial ownership of their properties on the Lofty Marketplace.
Single Family Home located in Kansas City, Kansas.
Details
- Completely renovated 3 bedroom home located within walking distance to several Turner School District locations (Turner High, Oak Grove Elementary, etc.).
- This home features brand new stainless steel appliances, quartz countertops, new flooring, new roof, new mechanicals as well as a completely fenced in backyard.
- Brand new driveway parking pad completed less than a month ago. Master bedroom is quite large and also features a nice sized closet with plenty of shelf and hanging space.
- The seller is providing a credit of $5,644.56 to repair the items in the Inspection Report Repairs document.
Property Management and Insurance
Occupancy Status
Location Data
- "B-" Rating for Zip Code on Niche
Due Diligence Documents
