Friday, November 16, 2012

Seattle Deal of the Year!

4:10 PM
Tonight I will be presenting this real estate investment deal that I did in the Ballard neighborhood of Seattle. What is significant about it is that it was a listed property right off the NWMLS, and that it cash-flowed immediately upon purchase (fully rented within two weeks).

Most investors believe that it is impossible to buy listed properties in Seattle that will cash flow - or at least without a significant discount on the purchase price. For this deal I paid full list price. What made it especially attractive was the possibility of seller financing. The seller financed 91% of the purchase price.

All purchase costs and improvements were paid for using OPM - Other People's Money. So my return on my investment is infinite, at least for now. In addition to seller financing, I used a $35,000 private loan, and applied my real estate commission to improvements. The seller financed approximately $7000 worth of repairs to the side sewer prior to closing.

Here are more stats on this deal:


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