I know the owner who knew I was in real estate. He mentioned to me that he needed to move but was under water. He couldn’t sell and was thinking about renting the house, but he didn’t want to have to deal with a renter. I discussed with him the possibility of selling the house with rent to own or assignment of contract. At first he didn’t understand or think it was possible. After a few discussions, he realized that it made sense to get the best of both worlds by selling the house and having someone else take over the day to day responsibilities. The owner actually helped find the buyer/tenant. They knew someone who wanted to buy, but couldn’t quite yet, but they also didn’t want to rent. I put the deal together by explaining how it worked for both sides. The seller agreed to pay me the upfront payment which was $3,000. The buyer can buy the house within 5 years for $270,000 and they are paying $1,700/month.
Great job Ryan
Way to go Ryan .
Letting folks know what you do, pays off…congrats!
Can I do this if the owners are behind with their mortgage payments?
Hello Ryan,
Congratulations and good job on the decision to join Ron LeGrand! I am proud of you and your efforts. Glad to see that you made a good choice, are becoming a successful real estate investor as well as making money. 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 Ryan,
Congratulations and good job on the decision to join Ron LeGrand! I am proud of you and your efforts. Glad to see that you made a good choice, are becoming a successful real estate investor as well as making money. 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
Oh by the way Ryan,
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.