creative financing deal in the portfolio

[Jimmy Mauvais]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $205,000
Cash invested: $1,000
Sale price: $279,000

Subject To Deal with a 5 year ballon

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

this was as close to a no money down deal as you can get

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

craiglist believe it or not. seller wanted to move back up north with family and was motivated.

How did you finance this deal?

a mix of seller carry mortgage of $150,000 and an owner carry note of $55,000 no payment with a ballon in 5 years.

How did you add value to the deal?

took over the monthly mortgage payments and brung in a new potential homeowner via lease option.

What was the outcome?

great cash flow income while waiting for a sale.

Lessons learned? Challenges?

it can be done and its never as bad as it seems.