Owner Financed Dream Home

[Myeisha Greene]

Investment Info:

Single-family residence buy & hold investment in Kansas City.

Purchase price: $40,000
Cash invested: $40,000
Sale price: $40,000

Owner financed

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

Upcoming neighborhood, tenant occupied Sec 8 high rent

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

My investor client was liquidating portfolio, asked if I could purchase if he made me his agent I would use commission checks to pay him back.

How did you finance this deal?

I was his agent moving forward on all his future deals. Bought $2million in properties over 2 years. Used commission checks to pay off property. Used leasing checks to pay personal bills.

How did you add value to the deal?

Tenant moved out after 6 months, used credit cards to rehab unit.

What was the outcome?

Moved into the unit and started a family. Own it free and clear doubled in value.

Lessons learned? Challenges?

I would do this deal three times over!

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

Myself! Use me! I know the numbers because I used them myself.