Single-family residence buy & hold investment in Burlington.
Purchase price: $12,400
Cash invested: $12,400
Buy, Owner-finance & Repeat
What made you interested in investing in this type of deal?
Help a potential buyer own their own home for less than rent. Passive income. Great cash flow.
How did you find this deal and how did you negotiate it?
Moneeka Sawyer's Blissful Investor podcast featured Roger Blankenship who helped in acquiring this property. I recommend both Moneeka and Roger.
How did you finance this deal?
How did you add value to the deal?
Have locks changed and sign at front.
What was the outcome?
In process of marketing to potential buyer for $700/month for 10 years.
Lessons learned? Challenges?
Willingness to take risks of purchasing the property "As Is" and the possibility of future buyer default.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
The Solo 401k plan as an alternative to a traditional retirement plan was introduced to me by Dmitriy Fomichenko of Sense Financial. I highly recommend him.
It still amazes me that there are still homes available for so cheap! Congratulations on the purchase.
I've now spent an hour researching your state for a purchase...
Thanks Nathan G!
@Elisa Eesley I'm looking to join the club, how is the selling process going? Are you using Roger's colleague, Helen, or selling yourself? Was the $12.4k all in with their fees? thank you in advance
Hi Teo! I apologize for the delay in reply. I don't regularly check my account yet. The selling process is smooth so far on my end. Yes, that it includes the $1k membership yearly fee. Yes, I am using Helen, the marketing coordinator. Email/call me if you want more info. Happy to help!
@Elisa Eesley I’m interested in one of Rogers properties and wanted to learn more about the process has been.
Hi David! I am happy to help. Private message me your cell and email and we can chat. Thank you.
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