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Updated about 12 years ago on . Most recent reply

User Stats

197
Posts
183
Votes
Keith Boley
  • Rental Property Investor
  • Lompoc, CA
183
Votes |
197
Posts

smoked this one

Keith Boley
  • Rental Property Investor
  • Lompoc, CA
Posted

Smoked this one

Ok so I found a 3/1 in ohio with my team. The bank was asking 7.8k (yes that's $7,800) and it needed 2k in repairs to make it turnkey. I offered 5k cash and the took it. I rented it last week for $600 per month with option to buy with owner carry for 40k. The payment will be only $25 more than rent and it will lock in my 122% cap rate. Yes that was not a misprint....Holly crap...I can keep it or sell it to one of you for 25k with a free home warranty and property manager in place for a year. Oh my god how easy is this...NOW GO GET SOME

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