Student Success Story - Lucky Luck

We have 3 Rent-to-Own houses, and this Monday we closed our most expensive one with a Tenant Buyer.

Here are the numbers:

• We bought it on a wrap with $0 down.
• Underlying VA loan: about $332,000
• About 28 years remaining
• ARV: about $350,000
• Tenant Buyer purchase price: $359,900
• The house is only 3 years old.
• PITI: about $2,500/month
• Tenant Buyer pays us $2,500/month, so we basically break even on the monthly payment.
• NROD: $20,000
• They already paid $7,500, will pay another $2,500, and the remaining $10,000 will be paid over 10 months.
• And obviously, they paid the $500 attorney fee, just like you taught me! :)

Regular rent in the area is around $2,100 for a similar house. One neighbor told me, “You’ll never get more than $2,200 for that house.” I just looked at him and smiled. :)

I also told my Tenant Buyers about the Down Payment Assistance Program, but they decided not to use it.

And here is the funny part: Yesterday, I got a call from a lady who came to our open house. She really liked the home and wanted to BUY IT FOR CASH! I had to tell her we had already placed a Tenant Buyer in it. :)

Thank you for all your help and everything you have taught me. You are The Legend!

Your forever student,

Lucky