|DETAILS OF ACQUISITION
• I received a call from a seller who was 9 months behind their mortgage payments. They were about to be evicted in 11 days and they needed to sell their property fast.
• So we bought the property from them, which freed them from their burden. And then we on-sold it to a family via a handyman special deal.
• The benefit to the seller was that he was able to move on without taking a hit on his credit. The buyer, on the other hand, was able to buy a home without having to come up with a large deposit (thanks to sweat equity). So it was definitely a win-win for both parties.
• In that deal, we received $15,000 up front, cash flow of $651 per month, and a back end profit of $27,000