By: Christina Ferris

I just signed a contract on another deal – purchased for $148k, needs $7k of work (unless something is wrong with the heater), sell with a land contract at $235k!!

I could have taken over the $83k mortgage at 5% but then I would have had to come up with the difference.

When there’s this much equity, I would normally flip this, but I just put a regular mortgage on it, cashed out $30k and will have at least another $30k in equity coming to me when my buyer refis me out – PLUS cash flow of $400.00/month. If I had flipped this, I would have only made $30k anyway because I would have had to pay holding costs and realtor fees and a little more money over-improving the property to guarantee the sale. Using the owner-financing method, I still got $30k cash up front (plus a 5% down payment from the buyer), and will just “bank” the other equity until the buyer refis.

And, I don’t have to stress about market conditions and how long it’s going to take to sell the house because I can do owner financing deals all day long!

Brilliant!…Thank you so much!

This is life-changing for me.

Christina Ferris
Ferris Properties, INC.