Our first three purchases were made with little or no money down and we now have $3,076 in monthly cash flow!! Thanks again for the chance to tell our story. We are still learning and hope to buy six more homes this year.

Our first purchase was a small trailer court in a town just 7 miles from us. We purchased the property from the owners with no real estate agent involved. The trailer court has five trailers and they are set on half of a city block. The county property appraisal was set at $91,000. We purchased the property at $60,000 at 8% interest with 5% down and the owners carried the note for one year with a balloon due at the end of the year. Our monthly payment is $544 and rent is equal to $1,375 each month. That’s $831 in monthly cash flow.

Our second purchase was a larger trailer court located 15 miles from us. The trailer court has 12 trailers, a storm shelter and large pond on 5 acres. The property appraised at $230,000 and we purchased it at $198,000. Our bank financed 80% and the sellers carried a second loan at 20%. We came to the closing with no out of pocket expense and walked away with all of the deposits and all of that month’s rents. Our monthly mortgage combined to be $2,400 and monthly rents of $4,500. Another $2,100 in cash flow with no money down!

Our third purchase was a two-bedroom one-bathroom house located just ¾ of a mile from our home. The house appraised at $42,000 and we purchased it for $32,000. The owner financed at 8% with 10% down and a balloon at the end of 3 years. Our monthly payment is $240 ant the rent is $385 that we are getting. Another $145 in monthly cash flow.

Our first three purchases were made with little or no money down and we now have $3,076 in monthly cash flow!! Thanks again for the chance to tell our story. We are still learning and hope to buy six more homes this year.

Deborah & Gary G.