Dear Barbara,
Thank you for all your help, advice, and guidance as my mentor. I secured a 2 BR / 1 bath bungalow with a basement in a transitional area here in Indianapolis. I purchased the home, valued at $99,000 for the following terms:
Purchase price: $85,000 (zero down)
Monthly payment: $657 $500 (all equity) + taxes of $167
Term: 3 yrs w option for a second 3 year term.
I advertised on Craigslist for a Rent-to-Own deal and secured an agreement for a 3 yr option with option for another 3 yr at $94,999.
Downpayment: $7,000
Monthly Payment: $750
Overview: If the buyer goes both three yr terms the results would be:
Payoff (Purchase price – pay down) Profit
$87,999 – $49,000 $38,999
Monthly Cash Flow x 72 months $6,984
Total: $45,983
Thanks to Ron’s system and Barbara’s guidance in helping make this possible.
Jack Aikin
Indianapolis, In
Hello Jack,
Congratulations and good job on the deal! I am proud and excited for you and your efforts. I was 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
I like the math on this! Great job taking action and getting results! These deals are out there waiting for us to get trained, take action and get them!
Hello Tony & Angie,
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 successful real estate investors. 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 Jack,
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.
Hello Jack,
I am working on a deal right now and hope you are reading this comment so as to replying and giving me some words of encouragement, advice, and support. I sure could use it so that I too can be a successful investor! Maybe I’ll hear from you soon? Take care.