owner financing, selling with lease option

[Perry McAbee]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $335,000
Cash invested: $10,000

super nice rare find. Charleston style home lake front. Bought from distressed landlord with owner financing. Lived in for one year. Currently am placing for sale for 395,000 and offering a lease option for 5 years with 10,000 down and 2,500 a month. 200 a month will go to the purchase price.

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

The equity and the attractive financing I negotiated.

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

Facebook add. Following up for over a year.

How did you finance this deal?

Owner financing. (wrap around mortgage)

How did you add value to the deal?

paint, cleaning, fixed leaks, new appliances, sheetrock repair

What was the outcome?

currently up for lease option or sale