YAHOOO, It works!!! - Posted by d.henderson

Real Estate Investing
1

Posted by HR on May 11, 1999 at 07:50:44:

It got you to take action and see that this stuff works. Sure, you may hit a snag or two. But don’t forget that feeling or excitement. That’s what its all about (not to mention the profit :wink:

Congrats!

HR

2

YAHOOO, It works!!! - Posted by d.henderson

Posted by d.henderson on May 10, 1999 at 12:41:45:

Now for all of you long time investors, this may not mean much, but just think back to the first time your deal went through.
My very first L/O!
Bought house 20K my PPI per month 294.00
FMV 26-28K
L/O’d 30K their PPI per month 400.00
option $1,000.00 lease one year.
I don’t know how to figure the yield. Someone?
A BIG TEXAS THANK YOU! To all on the board that helped me,this means you Phil Fernadaz, plus Lonnie’s books helped me with this deal even though it not a mobile home. His books are great to explain things so simple that I can even understand. Thank you Lonnie Scruggs!
Now! NEXT!
d.henderson

3

Re: YAHOOO, It works!!! - Posted by Rob FL

Posted by Rob FL on May 10, 1999 at 22:33:12:

Congrats. But wait, I thought you couldn’t buy creatively in your town.

4

Back that truck up for just a moment. - Posted by Steve Heller

Posted by Steve Heller on May 10, 1999 at 18:23:46:

What did you pay down on the house? Looks like a pretty good deal. Were there any repairs needed and if so did you require the tenant/buyer to make them?

Thanks,

Steve Heller

5

CONGRATULATIONS! - Posted by Jackie in Dallas

Posted by Jackie in Dallas on May 10, 1999 at 18:05:02:

You’re right - time to go get another one!

6

Re: Back that truck up for just a moment. - Posted by d.henderson

Posted by d.henderson on May 10, 1999 at 21:31:36:

This was my “grandma” house that I ask about 2weeks ago. A friend of mine wants to get more interest on her money, so I borrowed 1,500, thats including all closing costs. I ask her what interest she wanted. She said that she was getting 5% and I told her I would give her 8% since she was a friend and wanted her to loan to me again. The house had new carpet, new paint and new AC and heating when we bought it. A real “gem”
I feel like it was a good deal. Hope so.
dee-texas

7

Re: Back that truck up for just a moment. - Posted by Steve Heller

Posted by Steve Heller on May 11, 1999 at 20:41:08:

$1500 seems mighty low for down payment and ‘closing costs’?