2nd Deal: Buy and Hold Land Contract, $1,000 down.

[Sean Tabor]

Investment Info:

Single-family residence buy & hold investment in Flint.

Purchase price: $20,000
Cash invested: $1,200

Land Contract Deal, $1,000 down $320/mo. Rented for $715/mo.

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

Neighbour to my first deal wanted to sell, just moving in with family to cut costs.

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

We had determined a value, but since I was still in College I couldn't get financing. We discussed her holding the note and she agreed. I bought it and stuck a tenant in the week after.

How did you finance this deal?

Cash Money down payment, land contract.

How did you add value to the deal?

After renting for 2 years, I updated paint/carpet.

What was the outcome?

Still Renting: $715/mo.

Lessons learned? Challenges?

Land Contracts are awesome! Low $$ down and easy cash flow.