My most recent deal

[Brandon Jackson]

I was informed that a lady had been trying to sell her house on the MLS but had been unsuccessful for almost a year. It was a 2 bed 1 bath house somewhat in the intercity, and she had it listed at $23K with no luck. (Buyers in that area have crappy credit and can't qualify )

Her husband had passed about 9 months ago, and she was now living in a high rise so the house was vacant and had been for a few months.

Because of my personal relationship with a close friend of the lady, I was able to meet with her and talk and negotiate a deal. 

Our agreement was as follows:

$13K sales price (Owner financed) with 5%interest and NO MONEY DOWN

$200/month payment (closed in the beginning of August and my first payment wasn't due until October) 

Before my first payment was due, I was able to find an end buyer. I sold the property on contract for deed for $5K down and $550/month which includes PITI (Principle, Interest, Taxes and Insurance) for $24,500 at 6% interest.

It's not a huge return, but the deal was done with no money out of pocket and now I'm cash flowing about $300/mo and I basically got paid $5K to  buy this house.

The original seller was happy because she was able to get rid of a house that was costing her money every month because it was vacant, and she was able to help out a young man (me 😁) that was trying to do something positive. 

I was happy because I was able to buy a house for no money down and immediately bring in a cash flow and a nice down payment.

My buyer was happy because they were able to become home owners with a small down payment, and a monthly payment that's slightly less than what they were paying at their apartment.

WIN/WIN/WIN

By the way. The only thing I did do was get the water and lights turned on so whenever I showed the house they knew everything worked. 

Robert Kiyosaki says we have to be like the banks and create money out of thin air. I think this fits that criteria...

SUCCESS, HERE I COME!!!