Hi Ron,
I did this “subject to” with roughly a $13.2K mortgage. This is a beautiful 3/2 house in town on two acres with city water and sewer. I paid the lady $10,000 cash, as well as paying her husband’s funeral bill for $2,000 after negotiating down with funeral home from $4,000. The back taxes were paid by the bank of $7,062 since the place was about to be in foreclosure. I paid the current taxes of about $850 to bring the taxes current. I paid my contractor $12,000 for paint and flooring. My total investment not counting the mortgage was around $25,000. I sold the place last week for $125,000.00 with $40,000 down ($10,000 in 20 dollar bills and a $30,000.00 check. That’s me in the picture with the cash and the check!
Thanks to Ron Legrand’s wonderful materials and seminars, I did a Land Installment Contract and even claimed the escrow funds. Ron and I have disproved the old adage “you can’t teach an old dog new tricks”. I’m an old dog, I’m 70, and now the goose will start laying a golden financial egg in my account of $699.91 per month for 20 years.
Thanks Ron!!! I’m now a believer!
John E. Keen
Nice, John. What a great story.
Now, it’s time to head up to the club to make it rain with all that cash!
Congratulations John, that’s awesome. I remember you from Atlanta!!
Hello John,
Congratulations and good job on the deal! I am proud of you and your efforts. Glad to read that you made some good money and are becoming a successful real estate investor. I am new to Planet Ron, and am working on my first deal. One day I too will be able to post a success story like yours. Take care, keep up the good work, and keep on investing.
Bye for now,
Robert
Hello again John,
Congratulations and good job on the real estate deal! I am proud of you and your efforts. Glad to read that you made some good investing decisions and are becoming a successful real estate investor. I am new to Planet Ron, and am still working on my first deal. One day I too will be able to post a success story like yours. Take care, keep up the good work, and keep on investing.
Bye for now,
Robert
Oh by the way John,
How many other deals have you done since this one? It would be interesting to find out what other deals you have so we can all learn from you experience and perhaps use that knowledge to help ourselves make us successful. Thank you and take care.