Purchase Money Mortgage Deal

[Brandon Sturgill]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $65,000
Cash invested: $9,000

SFR acquired through a purchase money mortgage. It's a 1,000 sq. ft. 3BR 1BA with a full basement...rents for $900/mo. $5,000 down with $65k...owner carried the note for $60k at 5% interest for 60-months. $3,900 or so out-of-pocket at closing (settlement attached). Cosmetic renovation

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

I was learning to raise chickens...not real interested until we met to talk yard birds at a coffee shop.

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

Random...

How did you finance this deal?

Purchase Money Mortgage (Seller Financing)

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

Just me ;)