SUCCESS STORY…………… 155 Warhmund

I recently bought a house in San Antonio, Tx on Warhmund street

I paid $15, 000 for the house and lot

I did not mow the yard nor did I dust off the countertops inside…I did nothing!

I borrowed $17, 000 at 8% (PUTTING $2, 000 IN MY POCKET)

I borrowed the money from a private lender at 8% annual interest, interest only, for 5 years, payable monthly at $114/mo.

I sold the house in less than a week for $38, 000 with owner financing;

$38, 000 with $3, 000 Down @ 12% for 15 years.

I put the $3, 000 in my pocket… adding it to the $2, 000 extra I borrowed (above)

These owner/occupants owe me $420/mo.

I pay out $114 to my private lenders who have a 1st lien on the property

I collect $420 from the owners who bought the property from me on a “wrap-around mortgage.” Therefore, I cash-flow a positive $306/mo.

I’ve collected about 6 payments on time… 6 x $306 = $1, 836

I have found a note buyer who will pay me for the full balance due because they will make 12% on their money… my owner/occupants still owes me $30, 570
I will collect $30, 570 from my note buyer by the end of the month.

So, with none of my own money, here is my income;

+$2, 000…..Borrowed Equity
+$3, 000…..Down Payment
+$1, 836…..Positive cash-flow for 6 months
+$30, 570…Note Sale
$37, 306….. TOTAL INCOME!
-$17, 000….Less the amount I borrowed
$20, 306…..Net Profit in 6 months

Did I need good credit? NO
Do I have any of my own money in the deal? NO
Can you make money in real estate with none of your own money? YES
Is this Passive? NO
Is it passive for my note buyer? YES
Can you do this? YES
Are you going to have to get some education? PROBABLY

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www.1000housespro.com