Our Purchasing Process
Step 1: You will select your property fro m our list of available properties.
Step 2: Our preferred lender will then contact you to qualify you for an 75% refinance loan.
Step 3: Upon lender approval, you will then sign a sales contract for 75% of the appraised value and put $5,000 down.
Step 4: You then buy the house from Southcrest via owner financing.
Step 5: Upon final inspection of the property from our project manager, the 3rd party inspector, and the lender's appraiser, you will be contacted to schedule the closing to refinance the property. At the refinance closing, the Southcrest note is paid off.
Step 6: You now own the property with permanent financing. Our property management partner will then contact you to set up your management agreement. Your 1st tenant placement is paid by Southcrest.
*As a Bonus: Every Southcrest Property is shown to potential tenants as soon as the rehab is complete, so it is very common that your property has a tenant in place or scheduled to be placed before you even buy the property.
Earn Referral Dollars: You will receive $500 in an escr ow account at the property management company for every investor you refer that buys at least one property from Southcrest Properties. This money can be used for repairs, tenant placement, or any other expenses incurred at your property. (Does not apply if commissions are required to be paid to other parties)
