Jon & Steph,
I got a call in response to my ‘We Buy Houses’ ad in our local Penny Saver back in October of last year. I bought a cute little 2/1 on a large lot for $30K using my self-directed IRA funds. Spent about $1200 on fresh paint inside and a few cosmetic repairs.
Just leased it this week for $ 59,900 with $8,000 down ($2000 at application signing and $6000 at closing – non-refundable deposit, check below). The net positive cash flow on the five-year lease will be about $6,000 per year, although my tenant buyers are hoping to exercise their option in only 3 years. We closed at my attorney’s office (which they paid for) and we went through the lease item-by-item.
As a Quick Start attendee in December 2012, I can see what Ron meant about the money to be made in smaller properties – my ROI is off the charts!
All I can say is: Trust the material, follow the directions, and I’m moving on to the next deal!
Thanks
Andy
Hello Andy, thanks for the success story! It is very inspiring and well worth reading about. This story was from a long time ago, how are you doing today? The Your determination, focus and dedication is really something else! Keep up the good work.