Agent to Agent deal

[Jeff Boyle]

Investment Info:

Single-family residence buy & hold investment in Hamilton.

Purchase price: $85,000
Cash invested: $9,000

Bought for $85,000 with 9% down. It was off-market. We are renting it out for $1000 a month.

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

We actually bought it to do a lease purchase back to the current renter. He is someone we know. It is a 2 year Lease Purchase with a monthly payment of $1000 a month and an already agreed upon price at the end that really made this deal worth it. If they do not close on it within the 2 years we can keep it or we can extend it. It will be up to us at the time.

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

The tenant came to us and asked us to buy it and do a lease purchase back to him.

How did you finance this deal?

Portfolio loan with 10% down.

How did you add value to the deal?

The value was built in to the lease purchase in the monthly payment, the final sale price and the rest of the terms.

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

The owner is a Realtor that was looking to start getting rid of some of her rental properties and I am a Realtor myself.