I just completed my first deal!! Its a 5 Acre piece of property about an hour south of Indianapolis. Purchased with seller financing for $12,000 at 12% interest for 5 years and SOLD on seller financing for $40,000 at 12% interest over 10 years.

When I purchased the property, it had no driveway to access the property, and there was a forest of trees between the road and open part of the property, so I had to spend $1000 on gravel and a weekend cutting down trees. I also spent $5000 on a "tiny house" shell and storage shed from one of those amish built barn companies. Being an hour away from civilization (15 minutes of gravel road to get to the property) The driveway and buildings made the property a LOT more desirable, especially with the growth of the tiny house trend.

My payment on the property is $256/month for 5 years with $500 down, and my income from the property is $503/month for 10 years + $5000 down payment.

I would like to get more into rental property than selling on contract, but I sort of fumbled my way into this deal, and with it being rural property with no house, there were a lot fewer hurdles and red tape with the county, which made this a great opportunity to get my first deal out of the way and make a little money in the process (All of the "first deal" horror stories on the BP podcasts where people lose thousands of dollars made me think EXTRA hard about what I wanted my first deal to be).

I hope to keep this momentum going and start acquiring more cash flowing properties for buy and hold!

One down, Infinite to go!!

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FIRST DEAL DONE! $18,000 investment to $40,000+interest sale.

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