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Home » Resources » Millionaire in the Making – Laura Perkinson

Millionaire in the Making – Laura Perkinson

Whew!!! I thought I had lost this one to foreclosure. It was coming down to the wire, but with Dan’s help, I was able to find a tenant buyer in the last minute and save this homeowner from foreclosure all while putting a little moola in Hip National Bank.

Thank you for the advice of negotiating with the bank to take less money to catch the payments up and saving me $900 in the process. Here is the breakdown:

Subject to: $73K

Selling for: $119K

Mortgage: $635

Rent: $850

I received $500 earnest money and after I used ScreentheTenant.com to check him out, and he passed (thank goodness!), I got another $4500 the day he moved in!

Down payment: $5K

So my profit for this deal will be over $41K upon sale and $2580 this year in risidual income PLUS I sold him the leftover furniture in the house for $200 cash.

Total: $43, 780+

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