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A student of mine from
Richmond, Virginia put together her first sandwich lease deal on this
property. Regina found this home advertised on the internet by the
homeowner. She quickly discovered the property was vacant and the homeowner
was now living out of state. The homeowner was very anxious to deal and Regina
used her specialized know how to quickly
put together the following deal: nothing down; control of the property for twenty four months;
$793 per month; and an agreed to purchase price of
$95,000.
She immediately went to work marketing for a tenant/buyer. She found
them…..just two days later! She received $3,500 option money, is receiving a
$57 per month cash flow for the next twelve months, and set the purchase
price at $106,000.
If the tenant/buyers exercise their option to purchase, she will receive an
additional $2,400 at the closing! And, as always, the tenant/buyers agreed to being
responsible for all maintenance and repairs, and will pay all closing costs,
too!
Not a bad first deal, Regina! Congratulations!
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