successful rehab owner financed
Investment Info:
Single-family residence note investment investment.
Purchase price: $5,000
Cash invested: $40,000
owner financed home at 89.900 with investment of 45k total home is 1940 we rehabbed completly...roof too new pier an beams, winows to doors, redesigned layout an added a half bath with laundry room/additional 85 sq ft
What made you interested in investing in this type of deal?
price was right
How did you find this deal and how did you negotiate it?
through our pastor...no negotiation necessary
How did you finance this deal?
cash
How did you add value to the deal?
we are contractors so we did it ourselves
What was the outcome?
owner finance, 15y term will net 135k
Lessons learned? Challenges?
be your own contractor if possible...….very shady contractors in this part of oklahoma
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
no