LandInvestors.com Forums +Success Stories+ First Owner Finance Deal # 1

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    Topic
  • #1865

    Jermaine and Faith Hill
    Participant
    Post count: 36

    I just closed my on first owner finance deal this past Friday. I was able to purchase this from our auction list mailing. Here is my breakdown.

    Vacant Land Purchase Price: $5,300

    Sell Price: $2000 Down + First Month Rent $160.

    Contract: 5 Year @ 7.5% Interest 160/Month.

    If the buyer pays through the full term ROI = 119%.

    I actually had this deal in the making before I purchased the Land Academy Package. Since I have purchased the package I will be using their model to the tee. I have sent out a mailer of their method and have already received my first contract back signed! We are going to start targeting my rural areas in order to buy more inexpensive land so to not eat up our capital so fast and be able to do more deals and get better returns!

Viewing 7 replies - 1 through 7 (of 7 total)
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  • Chris
    Participant
    Post count: 252
    Pro

    Awesome! Congrats!

    Was the selling price $10k? How did you advertise it?

    Jermaine and Faith Hill
    Participant
    Post count: 36
    Pro

    Chris,

    Correct, final purchase price was $10,000. I had a cash offer for $9,750. With a good down payment we decided to go with the cash flow, since that is our main objective this year. I advertised it on Craiglist. Craiglist has been a great source for me to build my buyers list as well.

    mike dugan
    Participant
    Post count: 65

    great deal!

    Jill DeWit
    Participant
    Post count: 439
    ProAdvancedStaffPrincipal

    @jhill28

    NICE! Great job Jermaine, and I am SURE there are many more to come!

    -Jill

    Luke Smith
    Moderator
    Post count: 1263
    ProAdvanced

    The first in a train of deals. Would love to hear the numbers on the next 100.

    Chris C
    Participant
    Post count: 50

    Nice! Happy to hear about your success. And thanks for sharing about your success with Craigslist.

    Jermaine and Faith Hill
    Participant
    Post count: 36
    Pro

    Thanks Guys, I will sure update on any success and failures I come across to help others!

Viewing 7 replies - 1 through 7 (of 7 total)

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