View Single Post
Old 05-28-2020, 06:40 PM   #4988
jdubya jdubya is offline
MVP
 
jdubya's Avatar
 

Join Date: Jan 2012
Casino cash: $1645025
Quote:
Originally Posted by Hog's Gone Fishin View Post
Thought I'd share my productive day today.

So I bought a property 5 years ago for $118,000. Bank financed 80%. seller financed 20%.

I rented the property out on a Lease/option 5 year contract. This means at the end of 5 years the tenant has the option to buy the property on the agreed price which was $148,000.

During this 5 years the tenant is responsible for all maintenance and repairs so basically all I had to do was acquire the property ,clean it up and rent it out.
!
Ive always been intrigued by this strategy but havent the balls yet to pull the trigger on this type of deal. Seems like a win win scenario though. I do have a good deal of money in real estate but it is a bit hands off very similar to a REIT type of deal with RK Properties and have done very well. I have always wanted to go next level and do what you have done though. Congrats to your success.
Posts: 6,839
jdubya 's phone was tapped by Scott Pioli.jdubya 's phone was tapped by Scott Pioli.jdubya 's phone was tapped by Scott Pioli.jdubya 's phone was tapped by Scott Pioli.jdubya 's phone was tapped by Scott Pioli.jdubya 's phone was tapped by Scott Pioli.jdubya 's phone was tapped by Scott Pioli.jdubya 's phone was tapped by Scott Pioli.jdubya 's phone was tapped by Scott Pioli.jdubya 's phone was tapped by Scott Pioli.jdubya 's phone was tapped by Scott Pioli.
    Reply With Quote