2nd House this month. No cash out of my pocket and no bank involvement!

I've picked up my 2nd property this month. I picked up a 3000 sq. ft home that sits on 2 1/2 acres in the middle of town. House in not in need of any repairs, it is not a fixer upper. I did not have to use any money to pick up this property. I also did not have to obtain financing. With no cash investment, I have the ability to profit up to $7,500.00 immediately as well as to provide a positive cash flow of $400.00 monthly for 5 years. I'm looking to pick up at least 18 properties total this year.

Congrats David!

Valuni's picture

that is awesome!

are you planning on flipping this property or holding it?

looking forward to hearing about your 18 properties for the year!

I'm going to hold on to this

Nvstr's picture

I'm going to hold on to this one and collect the positive cash flow. I'll wait for the market to begin it's recovery before trying to move this one.

Holy cow! Congrats!

Sounds like you're on to something. How did you locate this deal? Any particular strategy to acquire this property? Please give details...

I picked up this one as a

Nvstr's picture

I picked up this one as a lease purchase. Many homeowners have few options available to them since many owe more on their homes than they are worth. They also cannot compete with foreclosures. By offering them an attractive alternative, you open the possibility of acquiring their home. Most homeowners are trying to sell their home because of their monthly debt. By offering a solution to take care of their debt you create a winning scenario they may have otherwise. This is the same in any real estate transaction. Find the true motivation and find a solution.

I picked up this one as a

Nvstr's picture

I picked up this one as a lease purchase. Many homeowners have few options available to them since many owe more on their homes than they are worth. They also cannot compete with foreclosures. By offering them an attractive alternative, you open the possibility of acquiring their home. Most homeowners are trying to sell their home because of their monthly debt. By offering a solution to take care of their debt you create a winning scenario they may have otherwise. This is the same in any real estate transaction. Find the true motivation and find a solution.