100% PASSIVE INCOME in Memphis, TN

[James Wachob]

Investment Info:

Single-family residence note investment investment.

Purchase price: $20,000
Sale price: $52,000

This home was purchased and then sold to the current owner with 20% down and a 5 year mortgage. If you want to learn about how I am teaching newbie and seasoned investor how to find and execute deals like this, shoot me a message on BiggerPockets.

What made you interested in investing in this type of deal?

The neighborhood. I had 2 clients looking for an opportunity like this.

How did you find this deal and how did you negotiate it?

This was a lead from my website iBuyYourHouse.com - The owner was a "weary landlord" and she was looking for a buyer who would be willing to inherit her past due renter.

How did you finance this deal?

Cash.

How did you add value to the deal?

Buying at the right price. I did not spend $1.00 on the home after purchase.

What was the outcome?

CASHFLOW for the next 5 years, guaranteed!

Lessons learned? Challenges?

Learn how to make each motivated seller lead into a deal, if possible. However, not every lead IS a deal.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I am a licensed Broker in TN & MS.