Offline23,279.06!!!
Dan and I made a chunk of change today!! Our oldest lease option finally is finished!!! The tenant buyer exercised her option and refinanced the home, paying us off. This deal started in 2009. WOW what a journey. I am so pleased... 
Thank you Dean and Success Academy staff! We are so thankful. Am I going to do this again?? You bet I am!
We have another under contract Repeat what works....right!!
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"Don't tell me I can't, Tell me how I can."
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"Don't tell me I can't, Tell me how I can."
Talk about making money in the middle and making a nice chunk at the end. I'm in the process of putting a lease option deal together myself, hope I cash out big like you. Thank you for posting your success story, gives me motivation to push forward.
Reynold Orozco
very nice chunk of change!!!
as they say... wash... and repeat!!!
Congrats Girl! xx
Val
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown
My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...
Jill & I just sold a lease option also, it was a property we bought for 41.5 K & paid cash; the tenant buyer gave us a 10 K deposit; we rented it out at 700 per month; with a 2yr. term; they DID NOT buy it, so they forfeited their deposit; BUT liked the house so much, they asked to stay as a month to month tenants at 625/month. We agreed, then 9 months later they qualified for a USDA mortgage & they bought it; NOW For the Numbers : Since we kept the 10K; we actually paid 31.5 K for the house; it was "free & clear" so our positive cash flow for the 1st 2 yrs. was 582/month X 24 = $ 13,968; the 3rd yr. cash flow was 507/month X 12 = 6084; SOLD the house for 52,800(gave back 6% towards closing costs) - $ 3168 = 49,632 - 31,500(purchase price)= 18,132 + 13,968 + 6084 = $ 38,184 PROFIT ...on a $ 31,500 Investment; ROI was 121.2% or 40.4% per year. Now that's a Great ROI !!!
Congrats on your most recent deal Donna! Way to hang in there
Out of curiosity, what would you say is your conversation ratio on closing these lease option deals?
Lenee
www.allstarhouses.com
~Act successful! And you'll draw it to you.~
~Every achievement, big or small, begins in your mind. It starts as a thought.~