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How I Accidentally Landed My First Seller-Financed Deal

I’ve been working on diversifying my real estate investment strategy. The house being small wasn’t a issue. The rural area was not the complete issue either. We acquired the property, subsidies were awarded to us to complete the majority of the rehab, and of course we had county approval. Here’s the problem: During this time, there were county elections, and politics got in the way. We had a property with a $20,000 note. I knew the tenant pool would be small, and most likely they’d have some credit issues, but we had to take a shot. We agreed to decrease the purchase price of the house rather than replacing the garage (part of the money from the fire to pay off the note and repair the vinyl siding). Although the seller financing was completely accidental, I was not closed minded when it came to finding solutions to turn the acquisition around. Free eBook from BiggerPockets!