I was able to buy a townhouse with seller financing in St. Johns County, FL using the Ron LeGrand system. The FSBO lead came from Ron’s Gold Club.
My mentor, Barbara Cockrell, walked me through every step of the process and offered creative ideas that made a difference in structuring the deal.
She helped me complete the purchase and sale agreement. I bought the home for $178,000 with nothing down with owner financing, a $1300 monthly payment with a 7-year balloon, and I paid the closing costs.
My exit strategy is to lease-purchase to a tenant buyer. I expect to sell it for a lease purchase of $188,000 with a $1475 monthly lease payment and a large non-refundable option deposit.
If my first tenant buyer does not close then I will keep the non-refundable option deposit and increase the price and sell to another lease-option buyer since I have a 7 year term.
Ross McCabe, Jacksonville Florida
Congratulations Ross!
congrats great job Ross!
Thanks for sharing! I would love an update on how this deal panned out! I hope you got all you wanted!
Hello Ross, thanks for the informative success story and the posting. Barbara Cockrell sure knows his stuff. Congrats to you on the profit you made. Never give up and keep on investing, moving forward and make us all proud of you. Take care.
Hey Ross, it has been way over six years that you have been working with Barbara as your mentor. Are you still her student, or have you chosen someone else as your mentor? Oh, what other deals have you been working on lately? Working by myself is proving to not work out at all. I just can’t get any good deals on this end and am looking for advice from members like you. Please reply.