From Junky to Real estate Investor

[Austin Urbanec]

Investment Info:

Single-family residence fix & flip investment in Streator.

Purchase price: $70,000
Cash invested: $20,000

This is my first property. Currently working on the purchasing, it Is currently owned by my parents. My brother and I are partnering up to purchase this property and plan to BRRR it.

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

It was basicly my only option. My credit is awful and I am not able to even use my Annuity fund through my union for an FHA loan at the moment.

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

It was through my parents and I negotiated Seller financing. I told them about the benefits and how this property will help us get stated in achieving our goals.

How did you finance this deal?

Seller financing

How did you add value to the deal?

I am going to rehab the property and will use it to catapult my real estate business of buying and selling. They don't know it yet but some day I will have the means to retire my parents. They have been so faithful with what God has given them and were there for me midst a time of my life I was battling a massive Addiction.

What was the outcome?

Still in progress