Lease Options University Deal of the Month

Student- Dianna Werner, KY

Dianna found a vacant property that she found was in the process of foreclosure. She contacted the property owner and found that her son had built the home and had used her name and credit to fund the construction. The family then ran into financial strain and was unable to make the payments on the property.

Dianna recieved an "Authorization to Release Information" and was able to pull a title search on the property. She found there were two mortgages on the property and it was going to auction in two weeks. She recieved information from the property owner of who to contact with each lender.

She first contacted the 2nd lender and offered them $5,000 for the $40,000 note against the property and they accepted it. The first had a balance of $135,000 and she offered $130,000. She is into the property for $135,000 and it's value is $180,000.

Dianna already had tennants lined up with a $2500 deposit who pay $1600.00 a month. The mortgage on an interest only loan is only $600.00 and the option to purchase price is $185,000 in one year. She is currently helping the tenants repair their credit and will be making a total profit of $59,600.

Great Job Dianna!