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http://www.calewing.com
Hey investors! Cal Ewing here, and I’ve got a stellar Tennessee note deal secured to a property just outside of a hot Nashville real estate market. ????????
If one of your 2026 money goals is to get your lazy cash or self-directed IRA off the sidelines and into a secured, above-average return, this might be your deal.
???? The Deal: Clarksville, TN Reverse Mortgage Play
We’re buying a first-lien, non-performing reverse mortgage note secured by a:
3 bed / 2 bath / ~1,274 sq ft home
On a 0.47 acre lot, built in 1987
2-car garage, nice curb appeal once cleaned up
Located in Clarksville, TN, an easy commute to Nashville and minutes from Fort Campbell Army Base
The property is vacant, borrowers are deceased, and the current lender doesn’t want to finish the foreclosure or deal with a rehab — that’s where we step in.
Condition:
Rated “fair” in BPO/inspection
No major red flags – no foundation issues, no water damage, roof in good shape, winterized, no vandalism
Needs trash-out, deep clean, new paint & flooring, updated fixtures/appliances, and some yard cleanup
Classic light rehab / lipstick flip ✅
???? Why Clarksville?
Clarksville is benefiting from:
Proximity to Nashville (hot real estate market)
Fort Campbell driving strong employment & housing demand
Fast-growing population and healthy job market
A seller-leaning market with reasonable days on market
In short: strong fundamentals for a fix-and-flip exit.
???? The Numbers (Conservative Underwriting)
Legal loan balance (payoff): ~$200,362
Our note purchase price: $145,000 (discounted first lien)
Back taxes: ~$1,464
FC / servicing / transfer / DD: ~$4,000
Rehab budget (light): up to $30,000
Holding costs (taxes, insurance, utilities, mowing): ~$4,000
???? Total capital needed: approx. $185,000
Values:
“As-is” value: estimated $210K–$233K (BPO at $233K; I’m assuming low end)
ARV (after light rehab): ~$245K - $260k (I’m using this conservative number, even though comps support higher)
At a $245K sale price, after sales costs, we’re projecting:
Approx. gross profit: $40,500
Timeline: underwritten at 9 months (even though my base case is 6–7 months)
Annualized deal-level return:
~29% if done in 9 months
~22% if it stretches to 12 months
???? Private Lender Terms (Your Side of the Deal)
Looking for one private lender to fund the project:
$150,000 upfront to buy the note and complete foreclosure
Up to an additional $35,000 later for rehab + holding costs
Total exposure: about $185,000
Your return:
10% interest-only loan
9-month minimum interest guarantee
If we finish in, say, 6 months, you still get 9 months of interest, which boosts your effective annualized yield into the 12–13% range depending on timing
This is a short-term, first-lien, real-estate–secured play tailored for cash or IRA funds that you want working faster and harder.
???? How You’re Secured
You’re secured the whole way through:
During the note phase:
Your name/IRA/company goes on the Assignment of Mortgage alongside mine
Recorded in county records in first-lien position against the property
After foreclosure / as an REO:
We create a new first-lien mortgage in your name (or your entity/IRA)
Again recorded in first position, secured directly to the property
From start to finish, you are publicly recorded and secured in first lien against the asset.
⏱️ Timeline Snapshot
Close on note purchase: by end of December 2025
Foreclosure complete: target 60–90 days (Tennessee is non-judicial, which keeps things fast)
Rehab: ~90 days or less (light cosmetic work)
List & sell: ~50–60 days on market
Total projected timeframe: about 6–7 months, underwritten at 9 months for safety.
???? Want the Full Package & Deeper Dive?
If this sounds interesting and you’d like:
The BPO and inspection reports
My detailed spreadsheet on the deal
Comps, photos, and full due diligence package
Then let’s talk.
???? Book a Zoom call: talkwithcalewing.com
We need to fund this by the end of December, and I’d love to partner with a serious investor/private lender who wants a secured, double-digit return on a real property in a strong Tennessee market.
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