Buy One Get One Free !

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Hello Everyone! Thought I would share a story to encourage others along their way of investing.

I bought a rental house in my neighborhood using the Ron Legrand method of getting the deed. Here are the numbers:

Retail Value: 160,000
Repairs: 5,000
Mortgage 100,000
Seller payoff 10,000 When Sold

Sold 150,000 90 days later
expenses/closing 5,000
Profit 30,000

This same sellers' job transfered him out of town and before he left he deeded me his primary residence for free. I paid the seller nothing for the house, just had to keep it from foreclosure that was 3 months down the road. Put a Lease/Option tenant in the property with $10,000 down and it is cash flowing $400.00 per month with an equity spread of 50,000 when cashed out.

Buy One Get One Free !!

Stay encouraged, get some real training (teaching you how to protect yourself) and just go out there and refuse to lose.

“Planning is bringing the future into the Present so you can Do something about it Now” Alan Lakein

Peace always, Gil

Gil Mack
Northern Virginia

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