I am psyched! - Posted by Barbara (ME)

Posted by Jim IL on June 02, 1999 at 21:21:33:

Nice job, congrats!

I am psyched! - Posted by Barbara (ME)

Posted by Barbara (ME) on June 02, 1999 at 13:05:47:

I just completed a creative real estate deal for my son and family. They are a young couple with two children and not too much money. Down the street from me there was a lovely home for sale in between 2 expensive houses. It is a 3 story 1850 9 room (4 bedroom) home on a lovely corner half acre lot. It has unusual architectural details inside and out, including wainscoting, herringbone maple floors, and and an open hardwood staircase.It has a pantry and a porch too.

I had attempted to buy it before for rehab but didn’t offer enough (and wasn’t sure I wanted to do it). It needs cosmetic work only.The owner was from out of state and motivated…even suggested 20% down but was willing to owner finance the whole thing. This is what I convinced him to do…price $50000, $1000 down, and $373.07 a month (much less than they are paying for rent) at 8.25% with a balloon in 8 years.It is in the hands of an agent so he must also pay her commission.

This is their first house so as you can well imagine my son and family are ecstatic (I am too!)
Barbara (ME)

Yea, Mom! - Posted by SandyFL

Posted by SandyFL on June 03, 1999 at 04:47:38:

Way to go, Barbara!
Good show :slight_smile: