Updated over 7 years ago on . Most recent reply
Just closed my first creative finance deal
Ok, I know this deal is tiny but it was a victory for me nonetheless. A little background on the seller. She got some sort of settlement a couple years ago and bought this little house for 26k cash. Now her money is all gone, she's broke and her truck had been taken by the title loan company. The truck was to be auctioned off next week unless she came up with $3600. I offered to buy it for 18k, a 5k downpayment and $400 month principal only payments and she took it. She'll be able to get her truck out and have a steady cash flow for a couple years and I get a little house I will have no problem renting out for $650 a month. Like a said, its a small victory but it got me one step closer to enough cash flow to retire from my day job.
Most Popular Reply
@Nolan M. congrats! Take one bite out of the apple at a time! I love doing deals that make sense and is a win win! And wow $18k for a house ? A fixer 2 bed here will run $120,000 or so. The $18k would be the cost of a Ford Focus, so nice work and tremendous work! Work hard and find more deals!