ZERO cash out of pocket in Cordova, TN

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ZERO cash out of pocket in Cordova, TN

James WachobBusiness Member
Real Estate Broker · Memphis, TN · Member since 2015 · 1k+ posts · 890 votes

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $108,000

ZERO DOWN! and NO repairs necessary. I help investors build portfolios like mine that produce results!

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  • Al D.
    Investor · San Francisco, CA · Member since 2017 · 303 posts · 327 votes
    4y

    @James Wachob Hello, James.

    Would you please clarify some facts about your post?

    I was able to figure out that this property is 6913 Century Oaks Dr in Cordova, which allowed me to look for associated public records:

    You are saying that you bought it for $108,000 with no money down, presumably recently.

    But public records show that you bought it for $135,000 (recording date: 8/5/2021) and have a note for $108,000 (signed: 7/15/2021,) which is exactly 80% of the purchase price public records show you paid for it.

    Can you please explain the difference in stated price from the public records and how you were able to get it with zero down in that condition, and could do similar for a new client of yours today?

    Thank you.

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  • James WachobBusiness Member
    OP
    Real Estate Broker · Memphis, TN · Member since 2015 · 1k+ posts · 890 votes
    4y

    @Al D. I'm happy to give you a brief overview and I'm honored that you have shown such an interest in my portfolio. I purchased the home through an LLC for $92,560 (using a local bank line of credit) ON 01/20/21 and the sold it to myself for $135,000 ON 07/15/21 using a Fannie Mae loan. As you stated 80% of $135,000 = $108,000.

    Yes. I can do similar for new clients of mine today AND I do it daily. *I'm not promoting my services here just answering your question. 

    I'd recommend every investor reading these 3 books:

    1. The Book on Investing In Real Estate with No (and Low) Money Down by Brandon Turner

    2. Nothing Down by Robert G. Allen

    3. What Every Real Estate Investor Needs to Know About CASHFLOW by Frank Gallinelli

    0Reply
  • Al D.
    Investor · San Francisco, CA · Member since 2017 · 303 posts · 327 votes
    4y

    @James Wachob Thank you for setting the facts straight right away.

    1Reply
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