The government paid me $3500 to buy a house

1 Reply

Investment Info:

Single-family residence buy & hold investment in Palmdale.

Purchase price: $195,000
Cash invested: $4,000

Soon to be my first Simi rehab and sale 😀

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

Could tell market was dropping and decided now was the time to purchase our first property using the buy and hold method to start

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

Bank REO and new there was a program to stimulate buying offering $7500 cash back for buying a house at the end of the year.

How did you finance this deal?

FHA at the time 2% down =$4000

How did you add value to the deal?

By getting my $4000 back plus $3500 at tax time

What was the outcome?

Soon...

Lessons learned? Challenges?

Stick with your strategy run the numbers prepare as best you can

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

No just me and plenty of Robert kiyosaki books

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