No Money Down Investment!

[David Flores]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $200,000
Cash invested: $4,500

Closed on another seller financing property!!! The seller agreed to carry the entire cost of the down payment to the bank. I was able to convince the seller to do this by raising the sale price 20k. It was originally listed at 180k. The reason I did this is because the deal still worked for me at large margins with a 20k increase in the purchase price. This 20k increase in price got the seller to agree to carrying the down payment. The terms were great too 25 year amortized, 5.5%, 10 year balloon payment. This gives me enough time to build the equity I need to re-finance and keeps the margins high on the rental income. Excited about this one!! In a great location and has great rental history.

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

Great margins and the opportuity to close on another seller financing situation.

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

Found this deal through a listing agent I have a good relationship with. This was a pocket listing.

How did you finance this deal?

No Money down, seller financing.

How did you add value to the deal?

Will be adding value through upgrades.

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

Lawyers and a lender