Creative Deal
Bought 18 unit apartment complex on a no down land contract, I make only the sellers existing mortgage payments for 3 years. Note was created for 52K to give seller his full asking price but 52K note payments deferred for 3 years as well. I got 5K cash back for repairs plus no payments for 2 months and got to pocket those rents as well.
Reason why I got a deal like this -
Out of town owners - (A Doctor/Brother)
Shady Management/Maint.
Property needed some work (mostly cosmetic)
7 out of 18 rented at time of purchase
Currently have 17/18 rented and did that in the first month and one half after purcahse. Did I mention that this was my first investment purchase and they are in the ghetto.
Congratulations!
Where is there a ghetto near Willard?