All Forum Posts by: Adrian Chu

Anybody successfully do 0% interest deals?

Example: A 20 unit complex sits on the MLS for a year because it is overpriced at $740k. Offer full price to the seller, but dictate terms. Tell him you'll do a $70k down payment, with $5k/month for 10 years. But he has to do owner financing at 0% interest.

This is a real example given at a REIA meeting I attended last night. I have my doubts that this can work well enough to make a business out of it, but his expensive 3 day seminar will change my life, so it must be real

I posted maybe a week ago about a house posted on CL. It was advertised as 30K under market. Usually, those types of ads aren't quite truthfull:) I did talk to a couple of BP members about buying it but they didn't have quick funds and this one had to be done FAST. So, rather than let a great deal go elsewhere, I put it under contract, had inspections, and decided to move forward. The numbers are decent but not great. However, I got about 25K in free equity simply buying the property. It cost me just under 121K and will rent quickly in the $1200 range. Taxes are steep at $2400 (typical for Cape Coral). Maintenance, capex should not be bad. It is a 2004 build. It is on city water and sewer in the SW Cape Coral area and the 21K+ in water and sewer assessments have already been paid. That was one reason I felt it was pretty enticing. I closed today and already have one applicant to rent. Here are a few pics.