First deal finally off and running.

[Stephen Benson]

Investment Info:

Mobile home buy & hold investment.

Purchase price: $190,000

I bought a portfolio from a retiring real estate investor who was ready to get out. It was 5 mobile house financed on owner financing 0% interest rate 15 year term 0 down. It was the perfect starter investment for me. cash flows very well to get me started.

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

The cost to get in was very low and the cash flow was very high.

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

For from a family member.

How did you finance this deal?

Owner finance

How did you add value to the deal?

by taking it off the hands of the investor who was ready to get out.

What was the outcome?

owned for 2 months now just getting all the tenants lined out.

Lessons learned? Challenges?

inheriting tenants is not always the best route to go.

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

yes I did his name was David Benson Pinnacle Realtor.