Original message
| lynnhahn
   |  "Bought and Sold same trip"
, Mon 31 Jul 17:32 
I had a 2:00 p.m. appointment to look at a property that was owned by a young couple with good credit, who had gotten in over their head. They had a brand new Mitsubishi Eclipse in the driveway, but they had not yet made July’s house payment.
Balance on mortgage: $84,000
Payment P.I.T.I.: $684
House is only 3 years old, and in excellent condition.
I had already talked to them about lease-purchase before our appointment. They agreed to a five-year lease purchase (actually we write ours as a one year with option to renew five times). $684 per month, $84,000 option price. Within thirty minutes of arrival I had a signed contract. Our start date is September 1st, and they agreed to make July’s payment, and I would give them one month’s option consideration so that they could make the August payment.
Before I left their house I asked if they would mind if I had someone else come over to look at the house. You see I already had a buyer in mind (from our previous marketing). I called my potential buyer and she met me at the house twenty minutes later. She loved it. She is paying $93, 900. 5% down ($4,700) and $825 per month on a one-year lease purchase. She wrote me a $2,000 check on the spot and I am meeting her on Friday to get the balance.
There not always this easy, but I’ll take an easy one now and then!
Happy Investing!
Lynn 
|
|
Replies:
| |
|
|