Hi Lynette and Brian!
I just wanted to send you the numbers on our very FIRST deal!! It’s a property that already had a tenant in it, so we will be receiving $244 cash flow each month. The tenants that are in there now are interested in doing a Rent to Own down the road, not with this property, but with another one. So, hopefully we can get them into a new property soon. We’ll then put a Rent to Own buyer into this property and negotiate new terms that will include more monthly cash flow for us, as well as a down payment!
We bought it for $115,000 and $77,000 equity. The monthly payments are $356/month plus $220 condo fees and $150 taxes. The rent we collect is $970, which leaves us with $244 monthly cash flow!
We wouldn’t have been able to get this done without the mentorship program. Having the weekly calls with Lynette has kept us on track and helps to keep us motivated. It’s also really great that we have unlimited emails with very quick response time. There is so much to learn and so many questions we’ve come across and it would have made things much more difficult if we had nobody to help us along. So thanks Lynette and Brian for all your guidance! We’re looking forward to getting our next deal done soon!!
Kimberly Clark and Walter Weinreich
great start
Hello Kim & Walter, thanks for the success story! It is very inspiring and well worth reading about. Your deal makes you $244 per month which means you have a golden goose. Your determination, focus and dedication is really something else! Keep up the good work.