First Deal Done at 21 Years Old!

[Kevin Hoodwin]

Howdy BP Community,

Recently, I finished up my first deal.  It was an owner financed wrap around sale.  It's in the Dallas area.  I now have an originated note for the next few decades!

Details:

• Bought for $187K with a 20% down mortgage at 3.78%
• Put $5K rehab into it (light TLC)
• Sold with owner financing for $200K, received 10% down, 9% interest rate
• With all said and done, I have created a 25% ROI

Let me know what y'all think!

Best regards,

Kevin

[Tchaka Owen]

@Kevin Hoodwin - I'm most impressed that you had $40k to spend at age 21. Nice!

As for the deal, I'd rather see you get a tad more (maybe $210k), but you're making over $450/mo on your loan - that's awesome!