Investment Gone Wrong

[Brady Groves]

Investment Info:

Single-family residence private money loan investment in Rapid City.

Purchase price: $175,000
Cash invested: $1,200
Sale price: $185,000

Bought this house with owner financing. The relationship ended badly and had to sell before I was ready to as the note was being called.

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

I was trying to grow my portfolio.

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

Previously managed the house and when the owner was thinking about selling it I aske what they wanted for it and if they where interested in owner financing.

How did you finance this deal?

Owner Financing

How did you add value to the deal?

It was a chance for us both to make money. With options in the future.

What was the outcome?

Ended up selling before I wanted to.

Lessons learned? Challenges?

Be careful and make sure they understand what you are thinking and how you want to do it. Do not leave a stone unturned. Always be on the same page.

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

Not on this deal