This could be the deal that will change our lives forever!!!
OK, a little bit about myself. Me and my girlfriend are self employed in the food industry with "no money down" and since the business is new we are not seeing a R.O.I. at the moment. We also don't have a house and lost our apartment; mean while living with my father. We desperately need a house for our 2 children. I have read Dean's book "Be a Real Estate Millionaire" and got stuck in analysis paralysis! But the other day I saw his new Infomercial and I am back at it. I cannot give up or put things to the side anymore. This is the best time to get into RE and I don't want to miss the boat! Well enough of me let me tell you about a deal we found online. This property is unique because it sits on a Industrial Business zone and is a build able lot. Right smack in front of a huge seasonal theme park mostly summer. With A huge backyard. The house was converted into a 2 family house and owner currently renting the upstairs. The owner makes about $1000.00 dollars a day just renting his yard as a parking lot witch every other neighbor is doing. So you can imagine the foot and car traffic in front of the house in the summer. So we have plans to do a No Money Down deal with the owner because he needs a quiet place away from the busy roads for their 3 yr old child. The owner inherited this property from his grandfather and owns it outright. I did some research and found the price tag according to the assessor's office is at $192k the land alone is worth $93.3k & the house is $99.5k plus extras $1.2k. We talked to the owner and he seems willing to carry back financing, but wants $20k to move out comfortably. That's where my problem lies is the down payment. But he knows we stand to make a lot of money selling food, renting the apartment and renting for parking space. We have been keeping a close eye on the property and they keep lowering the price by one thousand every week; so I think he found a place to call home but needs to close on this property fast or he does not want to wait for the property value in the area to fall and loose his inheritance. I finally have the courage to make a deal with him where we can both be winners.
OK, a little bit about myself. Me and my girlfriend are self employed in the food industry with "no money down" and since the business is new we are not seeing a R.O.I. at the moment. We also don't have a house and lost our apartment; mean while living with my father. We desperately need a house for our 2 children. I have read Dean's book "Be a Real Estate Millionaire" and got stuck in analysis paralysis! But the other day I saw his new Infomercial and I am back at it. I cannot give up or put things to the side anymore. This is the best time to get into RE and I don't want to miss the boat! Well enough of me let me tell you about a deal we found online. This property is unique because it sits on a Industrial Business zone and is a build able lot. Right smack in front of a huge seasonal theme park mostly summer. With A huge backyard. The house was converted into a 2 family house and owner currently renting the upstairs. The owner makes about $1000.00 dollars a day just renting his yard as a parking lot witch every other neighbor is doing. So you can imagine the foot and car traffic in front of the house in the summer. So we have plans to do a No Money Down deal with the owner because he needs a quiet place away from the busy roads for their 3 yr old child. The owner inherited this property from his grandfather and owns it outright. I did some research and found the price tag according to the assessor's office is at $192k the land alone is worth $93.3k & the house is $99.5k plus extras $1.2k. We talked to the owner and he seems willing to carry back financing, but wants $20k to move out comfortably. That's where my problem lies is the down payment. But he knows we stand to make a lot of money selling food, renting the apartment and renting for parking space. We have been keeping a close eye on the property and they keep lowering the price by one thousand every week; so I think he found a place to call home but needs to close on this property fast or he does not want to wait for the property value in the area to fall and loose his inheritance. I finally have the courage to make a deal with him where we can both be winners.