A wraparound mortgage, or wrap, is a form of seller financing in which the seller's existing mortgage stays in place while the seller creates a new, larger mortgage for the buyer that wraps around the old one.
Log in to followNot doing a deal. Somebody in a local group shared an anonymized wrap note and deed of trust package as a teaching example and I've been going through it clause by clause, which i…
Run a small management shop, four people, about 190 doors mostly small multifamily. One of my longer-standing owners just sold a 6-unit on a wrap and asked whether I'll handle the…
Been doing quick turns, 60 to 90 days, buy with hard money at 11.5% and two points, out. Never held anything. Somebody brought me a seller who won't take cash and I don't know how…
I've got capital sitting and I've been reading about seller financing generally. Wraps came up and I don't follow the source of the return. As I understand it the seller keeps the…
Sitting on 41 acres, split-zoned ag and rural residential, bought two years ago with the previous owner carrying 190k at 5.25%, seven year balloon, no prepayment penalty. I've got…
First rental is supposed to close in about six weeks and the seller just changed the shape of the deal on me. Small 3/1 in a working class part of town, asking 245k, I was going t…