First Oxford House/Seller Financing Deal!

[Vic Liang]

Investment Info:

Single-family residence buy & hold investment in Knoxville.

Purchase price: $135,000
Cash invested: $27,000

First Oxford House rental, previous landlord wanted to liquidate and move on to greener pastures.

Cash flows 500$ a month.

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

Oxford House and their amazing systems/business. Also presented the opportunity to do my first seller financing deal.

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

Networked with folks from the Oxford network and when a landlord wanted to sell I was contacted to take over.

How did you finance this deal?

HELOC from primary residence.

How did you add value to the deal?

No value add. Seller was willing to sell at slight discount and

What was the outcome?

Just closed the other day.

Lessons learned? Challenges?

Originally wanted to finance traditionally, and when it fell through I asked if we could seller finance and he was willing to! All I had to do was ask...

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

Steven Sivers of Jackson Square Title Company - in Oak Ridge, Tennessee