Inner City Properties
Investment Info:
Single-family residence buy & hold investment in Houston, San Antonio, Dallas/Ft. Worth.
Purchase price: $46,000
Cash invested: $5,000
SFR in an area being revitalized in the inner city of Houston TX
What made you interested in investing in this type of deal?
The growth of the area and being able to get into this deal for a minimal amount down!
How did you find this deal and how did you negotiate it?
I found this deal from a co worker that had recently retired and was moving out of state! I convinced him to consider an owner finance deal and he agreed. I negotiated a 36 month deal at $800 a month, 0% interests with a ballon payment of the remaining balance at end of the term! I was surprised he accepted the deal.
How did you finance this deal?
Owner Finance
Lessons learned? Challenges?
Ask the right questions and you may receive the right answers!
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Brian Summers of Remax prestige,
Rene Sorola Properties Group, Ashley Starks
Senior loan officer Tyler Kelly @ Evolve Bank and Trust