I came across an opportunity for my 1st deal!!
A friend of mine recently bought a duplex. However, he has been too busy to get it ready and get tenants in place. He bought it for $40,000 (I believe it was appraised for $49,000) and his offer was for me to buy it (I think he mentioned 'land contract') for $45,000... no money down and payments of $400 a month. Together the cash flow would be $800; Therefore, I would receive $400 passive income.
As i already stated, this would be my 1st deal... so I am very excited but nervous at the same time! Any comments and suggestions are encouraged and appreciated