Updated about 6 years ago on .
Owner Financed Dream Home
Investment Info:
Single-family residence buy & hold investment in Kansas City.
Purchase price: $40,000
Cash invested: $40,000
Sale price: $40,000
Owner financed
What made you interested in investing in this type of deal?
Upcoming neighborhood, tenant occupied Sec 8 high rent
How did you find this deal and how did you negotiate it?
My investor client was liquidating portfolio, asked if I could purchase if he made me his agent I would use commission checks to pay him back.
How did you finance this deal?
I was his agent moving forward on all his future deals. Bought $2million in properties over 2 years. Used commission checks to pay off property. Used leasing checks to pay personal bills.
How did you add value to the deal?
Tenant moved out after 6 months, used credit cards to rehab unit.
What was the outcome?
Moved into the unit and started a family. Own it free and clear doubled in value.
Lessons learned? Challenges?
I would do this deal three times over!
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Myself! Use me! I know the numbers because I used them myself.