Crazy Awesome deal just closed! Not a penny of my money, Literally!!!

Congrats on the deal Mike! How did you come across this one?

Nice Job!!!

Love hearing these deals with creative financing. CONGRATS!

How'd you get the seller to pay your down payment? That's awsome!

Great catch by the way.

This was a referral. We purchased the next door neighbors home a few years. The tenant that is in the property I just closed on hear that the owner needed to sell she told her about me. I have a good relationship with the neighbors, they help me look after the other property we purchased a few years ago.

Ya really crazy huh!!!

The seller was really motivated, she was being ordered from an attorney from her husbands estate to sell the property no matter what. So she was motivated.

Also I built a good relationship of trust with her which is very important.

Lastly, ***I asked for it*** I'm not afraid to ask for things out of the ordinary.

This seller is a professional real estate agent in Kansas City and she had no problem doing this with me.

In fact she wants to meet me and find me more deals now that I can purchase and she can get paid on. So i'm really excited about that.

In all of my deals I make sure it is win win, otherwise it's not worth doing the deal.

Yesterday I just spoke with the tenant and she is so excited that I was able to purchase it. I was was told that she had been there for 8 years, the tenant told me she has been there for 11 years and she said that she's not moving. there are too many memories in that house that she is going to stay put.

Also she said there isn't anything I need to do with the home, everything works great and she is super happy.

I'm ok with that, right??? It cash flows well, It is in really good condition, section 8 pays with direct deposit, and it just passed a new inspection.

I really wish it was this easy, that good deals like this just come together. But I wouldn't appreciate them if I didn't go through the hard ones. And plus I love the problem solving ones. I have one I'm working on right now and we are so close on a wholesale deal.

Awesome deal Mike! Thank you for being a great mentor as well!

That's awesome that the deal rolled on so smoothly. It sounds ideal, and like it will be really rewarding. Hopefully, I encounter some similar opportunities in my real estate investing career and you cash out on many more of these!

Outstanding, I love hear this keep up the great work,thanks for sharing and I am more inspired

Thanks, Coach. I love the stuff I learn from you and the other coaches and great people that are part of DG family. I also follow your other piece here on forum. Thanks again.

Be your very best always-Judy Williamson

What you focus on is where your energy goes-Kristin

With gratitude,
Patrick

Great job on this house. I'm glad you were able to help the owner. Word of mouth is one of, if not the best advertising tool out there. Thanks for sharing this.

Greg

I love that Dean has these forums. I love going on here and follow people and their deals as well. It really inspires me as well to work harder, work smarter and work my goals.

I love the support and the encouragement it really does help propel me. We all need the support of each other. There is nothing like networking with like minded people. so thank you.

I really feel like if I just keep moving forward, always making offers deals will always surface.

Thank you dean for being an inspiration and providing this community to help us succeed.

Mike,

awesome deal! I love purchasing properties with none of my money, even if I pay more than what I normally would pay... as you say, in the end it all gets paid by the tenant

do you mind sharing your numbers to purchasing a home for $46,500 with two loans, taxes, insurance, and cash flow $350/month?

Ya you bet. i'm excited to collect my first rent from this property already.

rent is $850

I'm paying on the first from the private money $275/mo
The second is at 0% interest i'm paying $225/mo so every month I'm receiving the equity of $225 back into the property.

The cash flow I stated was the gross. I do pay insurance and taxes which is about $98 combined. So the actual net cash flow is about $250 per month.

I have an in house property management company and have the teams in place to manage the property, so i'm not paying a property manager.

The total deal i'm looking at is the equity i'm building with the 0% loan of $225 and the net rent i'm receiving of $250. And doing it with no money!

Hopefully that helps. I appreciate all the support, it is helping me a lot to stay on track. Also I've been utilizing what i learned at the Edge. I'm trying to get away from the things that I don't do well, and i'm really trying to focus on my strengths and the things I love doing about this business.

Thank you for your comments

Happy investing

Isnt this something we help each other grow and look at this wonderful deal come together, what a place to be, only here, much success, Jim

[to great for words I am scared but will try this great great

quote=mikessler]Purchased for $46,500

Private Money $33,000
Seller 2nd $13,500

My money $0

Monthly Cashflow $350

The property was completely rehabbed 3 years ago and is in great shape. It has a long term tenant of 7 years and she loves the home.

I'm amazed I just closed this deal. The seller was a really great lady that had was really motivated to sell her home. The deal came to me from a referral and over a course of 2 months we worked on closing it. I couldn't get conventional financing on it, I have too many properties, so the only way I could close it was with private funding. I sent the deal out to my lenders and I had one of them bit on it.

The amazing part is that the seller came to closing with my down payment and my closing costs. So literally just purchased this home with no money out of my pocket.

If real estate was this easy everybody would be doing it. I feel like deals like this only come to you when you are in the market working this business daily. People just know you are in the business.

I love real estate.

[/quote]

[to great for words I am scared but will try this great great

quote=mikessler]Purchased for $46,500

Private Money $33,000
Seller 2nd $13,500

My money $0

Monthly Cashflow $350

The property was completely rehabbed 3 years ago and is in great shape. It has a long term tenant of 7 years and she loves the home.

I'm amazed I just closed this deal. The seller was a really great lady that had was really motivated to sell her home. The deal came to me from a referral and over a course of 2 months we worked on closing it. I couldn't get conventional financing on it, I have too many properties, so the only way I could close it was with private funding. I sent the deal out to my lenders and I had one of them bit on it.

The amazing part is that the seller came to closing with my down payment and my closing costs. So literally just purchased this home with no money out of my pocket.

If real estate was this easy everybody would be doing it. I feel like deals like this only come to you when you are in the market working this business daily. People just know you are in the business.

I love real estate.

[/quote]

Charmaine,

You are right about Dean being the best for sure. I've never met a guru that offers as much real education and real help to get your business going.

You nailed it right on the head, you stated, you need to get this done!!!

That is exactly it. Dean gives us all the education we need, we just need to go get it done.

It isn't easy as walking through a park, but as you struggle and grow, it will become easy.

Keep up the good work. lets grow together.

Thank you, I appreciate your support. I agree these forums are amazing and it is a place for all of us to learn and grow. I follow other investors as well and love seeing success of others. It helps motivate me to get to the next level of business.

I look forward to see your success.