Investor Creates $11,472 A Month
Passive Income
On First Deal With No Money Down!
By David
Lindahl, The "Apartment King"
Home Study Courses by Dave
What would it be like to have an extra
$11,472 a month coming into your life each month. Imagine what you could do
with that extra money!
You could buy a bigger house, travel,
and/or give more to your church or a struggling loved one.
An investor I know is doing just that
because he closed on a deal where he is now pocketing $11,472 in positive
cash flow each and every month for the rest of his life (actually it will
get higher and higher) or for as long as he holds on to the property.
He did this by taking over an apartment
complex using a Master Lease Option. Does that mean he has to deal with a
lot of tenant hassles? Absolutely not! He pays a management company to do
that. The only thing he has to manage is the manager. It sure is easier
managing one manager than a bunch of unruly tenants wouldn’t you say?
This investor found this deal in the
local classified section of his newspaper. The owner had the apartment
complex advertised for a quick sale because he was burnt out (he was
managing it himself), had poor cash flow (it was 62% occupied) and he wanted
out.
The investor, being a true investor was
looking to get into the property with no money down and structured the deal
the same way you would structure a lease option for a single family.
He signed a Master Lease for the entire
complex and agreed to pay the owner a certain figure each month. He took
over all of the income and expenses on the property and anything above what
his expenses are and the lease amount is his to pocket.
He also signed an Option To Purchase the
property. Anytime with in the next five years, this investor has the right
to buy the property for the stated amount in the option.
When the investor took over the property,
it was cash flowing but not by much due to the high vacancy. Using a very
good management company and a having them spruce up the outside, he was able
to get it at 90% occupancy in eight months time!
Now remember, every month he owned the
complex he had positive cash flow. As the management company put more and
more tenants into the building his cash flow grew bigger and bigger, to the
point where it is now over $11,000 per month.
A lot of investors don’t realize that you
can buy apartment buildings the same way you buy single family houses. You
can do “subject to”, lease option, wholesale, and pre-foreclosure just as
easily and the best part is…the paydays are much, much bigger!
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David Lindahl, also known as the “Apartment King” has been
successfully investing in single family homes and apartments for the
last eight years. To get a copy of the FREE SPECIAL REPORT “The 23
Costly Mistakes Investors Make And How To Avoid Them” email him at
dave@real-estate-fortune.com.
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