Millionaire in the Making – Whitney Nicely

Rent, Flip, Lease Purchase and Mustard Seeds

My brother and I bought house #1 last June for

$25,000. We thought it would take $50,000 to fix up and we would rent it out for the rest of our lives for $1,000 per month. In September 2013, we bought a 3/1 house at auction for $35,000. Our idea was to fix up the bathroom and rent it for the next 100 years as well.

That was a fine plan until I went to Quick Start Real Estate Boot Camp in February 2014. I also signed up for Ron’s Millionaire Mentoring program with Jon and Stephanie Iannotti as my mentors. Through our weekly mentoring conversations with Jon, I decided to Lease Purchase both houses. I had house #2 rented at the time but in May 2014 the renters called to let me know that they were moving to Utah. Now my Rent to Own plans for both houses were sent into Overdrive!

While we were finishing the rehab on house #1 in July 2014, two guys stopped into my office to rent a commercial building. I told them in conversation that I had two houses available but one was still under construction. Those guys left my office to drive by both houses. I had house #2 advertised for Rent to Own on my website and Craigslist with multiple people calling every day. In the back of my mind, I hoped they would call back and take one of the houses. When they did call back they wanted BOTH houses! House #2 was ready to move in but House #1 didn’t have the floors refinished, appliances were still in boxes and the cabinets weren’t installed. These guys knew it would be beautiful and they didn’t want someone else to have the opportunity to see it. So, they put money down on both houses that week! It took a few more weeks to get each family approved and happy, happy, happy.

In total, we are selling house #1 for $135,000 with $10,000 down and $1,000 per month for two years. House #2 has a sales price of $79,900 with $8,000 down and $800 per month for two years. My brother was ecstatic when I told him the new plan to get our money back in two years, plus the money we would make to reinvest in other properties. Thanks Ron for showing me that rental houses aren’t always the best plan for retirement! August 29, 2014 was one of the greatest days of my life thanks to what I learned from Ron and Jon!

Want to know what else happened last Friday?

I closed on my first Flip house! I took ahouse Subject To in Powell, TN for what they owed, $133,000. I had dozens of people look through it for nearly two months with no offers. I decided the only way I’d get someone to take it was to rehab the kitchen and bathrooms because they were terribly dated. It took two weeks of hard work but the house was beautiful! My mentor, Jon Iannotti, told me it would take 30-45 days for the market to notice my improvements. He was right!

On day 36, I had an offer to purchase the home for $165,000! After three weeks of inspections, title work and many, many phone calls, we closed on August 29. My mentor, Jon took the time to help me work through last minute glitches in the paperwork. He also answered all my hectic, frazzled questions leading up to the big day. I could not have managed last week without the Iannotti’s help!

How many 29 year olds have a $40,000+ PAY DAY?! I barely made that much money in all of 2013. Thanks to Ron and Jon I have a totally new perspective on real estate! The Lord has given me several real estate blessings this year. I have had the faith of a mustard seed and it appears that the mountains are moving! Next year, my goal is to have three closings every month as a normal course of business. But for this year, it is a cause for celebration!

Sincerely, Whitney Nicely

The Happiest Girl in TN