LandInvestors.com Forums +Success Stories+ Seller Finance Deal # 2

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    Topic
  • #1941

    Jermaine and Faith Hill
    Participant
    Post count: 36

    I received my down payment today of my second Owner Finance Deal. This is also a deal I locked up before I joined Land Academy; which is why I feel the numbers are not as strong. This is the last property I purchased before Land Academy. Moving forward, every property purchased is through the Land Academy Method! I purchased this from our auction list. Here is the breakdown

    Purchase Price: 4900

    Sell Price: $8000

    Terms: $500 Down + First Month Rent $156 @ 9% Interest for 5 years. If they pay through the entire contract, the final sell price is $9,341. ROI = 90.63%

    Our first two owner fiance deals puts us at $316/month. Our Goal is to close 5 owner finance deals a month!

Viewing 9 replies - 1 through 9 (of 9 total)
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  • Chris C
    Participant
    Post count: 50

    Very nice!

    Through which channel did you sell this property?
    Landwatch, Craigslist, eBay, your buyers list, etc

    Luke Smith
    Moderator
    Post count: 1263
    ProAdvanced

    Those look like some sweet numbers!

    Jermaine and Faith Hill
    Participant
    Post count: 36
    Pro

    Thanks! I sold this Property through Landwatch…

    Michel
    Participant
    Post count: 199
    Pro

    @Jermaine,

    Congrats. Where is the property located?

    Ariel Muller
    Participant
    Post count: 75

    @jhill28
    congrats! those numbers aren’t to shabby!
    when you say tax auction list is that the over the counter list or did you physically bid at the auction?
    also how long did you hold it for?

    Chris
    Participant
    Post count: 252
    Pro

    @jhill28

    Cool! How long did you have them listed on landwatch?

    Jermaine and Faith Hill
    Participant
    Post count: 36
    Pro

    @Ariel Muller: There is a Firm here in Virginia, which handles multiple counties auction list in any given month. Before the auction date is set, they send out an initial advertisement to the public. So once this list is released, we send a letter out to the owner and try to buy their property from them before it goes up for sale at auction. Since Virginia is a Tax Deed State, the owners are highly motivated to sell before it goes to auction. We actually closed on this deal in November. So We held it for 2 months.

    @chris I have this deal listed on landwatch for a month.

    Jermaine and Faith Hill
    Participant
    Post count: 36
    Pro

    @Michel This property is located in Bedford County virginia. We plan to become the premier Land Wholesalers in the State of Virginia. So we are really focused only in this state for the time being…

    Luke Smith
    Moderator
    Post count: 1263
    ProAdvanced

    Nice strategy to be laser sharp at making offers to motivated sellers.

Viewing 9 replies - 1 through 9 (of 9 total)

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