My Third Real Estate Investing Deal, Another True Nothing Down

My Third Real Estate Investing Deal, Another True Nothing Down Deal.

My third deal as a real estate investor involved almost no money out of pocket for me at all. The home was in good shape and had only been built about 14 months earlier. The home is in a neighborhood where several builders had unsold homes on the street making it very difficult to sell a used home. The seller had an unusual motivation for wanting to be rid of the house: he wanted to forget an ex-girlfriend as he had bought the house to get married and for them to live there. The seller contacted me through an online lead site and looking over the deal I knew it was in an area that isnt very good for retailing homes right now due to over building in the area. So what I did was offer to lease option the property from him. Like many sellers, the idea of a lease option doesnt sound that enticing. Most sellers need all cash and have no equity. Well my seller had a little equity, didnt need any walking money, and knew he couldnt sell the home otherwise and had been trying for a few months with no luck.

After about a month the seller contacted me again about doing the deal. So we met at his...