I’m so grateful and thankful to God for Ron’s mentor program. It has been and continue to be a wonderful and rewarding experience working with them. As I have said before, they are a “God Sent Blessing” to me and my family. I have learned so much from them. Their mentorship has helped me to become a “Successful Real Estate Investor”.
We got the following lead from Zillow and sent it to Ron’s VA who called the seller and got a “YES”. We visited the house and got it under contract.
The ARV is $159,000. Immediate repairs are about $7,500. Therefore, we reduced the price to $152,000 on a Work for Equity rent-to-own deal. The mortgage loan balance is about $140,500. We purchased on a 10-year term for the loan balance at time of closing. The loan stays in the seller’s name.
We leased optioned for three years for $152,000 with monthly rent $1,228 with nothing going to principle. Down payment assistance is $100 monthly.
If tenant buyer purchase at end of three-year term, we will profit $21,027…
- 10,864 backend
- 6,000 down payment
- 4,163 monthly rent
Remind you – this is with no money out of our pocket, except for closing cost (1st month prorated rent took care of that).
Thank you,
Ben Mayo
Awesome!
the Wolff Couple rocks! Congrats on your first deal! Keep applying the system you have learned and keep pushing!
Hello Laurie, thanks for the informative success story and the posting. Congrats on the $21,027 profit. Never give up and keep on investing, moving forward and make us all proud of you. Good job on the deal. Take care.