I have purchased four properties within the last month. Property #1 with no money down, $3500 at closing to me, equity of $9,000. Insurance and taxes paid for the first year. Within a week had a tenant buyer Just $600 option consideration and monthly consideration of $225 for a years time. Will receive an additional amount of $3000 at closing within a years time. Cutting a tenant buyer a good deal and let him also receive the equity at closing. The buyer will work on investment properties I buy in the future.
#2 Bought and sold at the same time. Received $5000 at closing and then sold the home on a land contract to the previous owner who was in probate and possibly losing her home. Received $2000 on the land contract and positive cash flow of $190 per month and will refinance her into a new loan of her own in a years time.
#3-4. Picked up $5000 @ at closing for a total of $10,000 and a red flag the current tenants are on a month to month. Still have positive cash flow of around $75.00 per month. Will try to sell these two as quick as possible.
Received total cash at closing of $20,500 plus positive cash flow of around $500 per month for a year. Two properties will sell (tenant buyer) and the other on a land contract.
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