- Real Estate Broker
- Naples, FL
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Buy And Hold With Great Owner Financing
Investment Info:
Single-family residence buy & hold investment in Cape Coral.
Purchase price: $210,000
Cash invested: $50,000
Single family 3/2/2 pool home in SW Cape Coral.
What made you interested in investing in this type of deal?
I was on the fence until I asked the owner if he would carry paper. He responded with 20 years, 4%. Terms sold me. I got the property under market, and prices are rising. I expect this to continue for the foreseeable future. The downside to the deal is the property is rented under market and I had to inherit the lease.
How did you find this deal and how did you negotiate it?
The sellers were referred to me by a title company. The sellers stated they wanted a solid buyer and I was that for them. It was approximately a week and a half from contract to closing.
How did you finance this deal?
I put down 50K and the owners carried the balance.
Lessons learned? Challenges?
Always look for alternatives to make a deal more attractive. You never know unless you ask.