Real Estate Investing at Steveshotlist.com: Make Money Flipping Real Estate, Flipping Houses and Real Estate Investing

My business partner and I purchased a commercial garage together with a vacant boarded up house in the North Patterson Park area about 3 months ago for $6,500. We replaced the roof and signed a 3 year commercial lease with a solid tenant for the multi-bay garage. We had originally intended to hold it in our portfolio and collect the rent, but posted it on StevesHotList.com to see if anyone might want to buy it. Within a week we had multiple parties very interested, we were asking $43,000.
We received a full price offer in a short amount of time if we were willing to carry back a mortgage with hard money terms and a good deposit. This offer was coming from an experienced investor with verifiable assets. The terms of the sale were 15K cash down, buyer pays all closing, we carry back a mortgage in first position for balance at 13% and 2 points, interest only payments with 5K balloon in 1 year and the remainder balloons in 5 years. Based on the cap rate and what the house will rent for when repaired the buyer stands to make a good profit. He intends to fix up the house (which was in pretty good shape) rent it out and refi the property in a few months and cash us out. I am really happy we posted it up on StevesHotList.com as it did not cost us a penny and we made a very nice return on our original investment!