0% Seller Finance Deal on 6 unit condo set in Memphis tn

[Abdulah Abunasrah]

Investment Info:

Condo buy & hold investment in Homer.

Purchase price: $290,000
Cash invested: $85,000

Bought this 6 unit condo set utilizing a seller finance structure at 0%. Monthly payment is $1,000. Dealing with a HOA scam that is going on with it, but besides the scam I'm actually really proud of this deal. Average rent is $800, but this entire zip code is slowing growing over time and getting better.

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

The 0% interest deal

Lessons learned? Challenges?

Property managers can be huge scammers, wholesalers and realtors do not care about you so don't trust anything they say, ask hoa for financials before moving through the deal

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

Through Prosway.com. Realtors submitted it on there and I jumped on it right away 

How did you finance this deal?

seller finance

How did you add value to the deal?

Fixed the units up, pushing hoa hard to fix complex up and raise value

What was the outcome?

Still working on it