Hey,
Kenny said something on our call that I can't stop thinking about.
"Why would I ever want to do a wrap again?"
Let me give you context.
Kenny had a property in St. Louis. He'd bought it cash, renovated it, refinanced. Classic BRRRR. Left about $20k in. Was renting it for $1,300, cash flowing around $400 a month. Solid 20% ROI.
Then his tenant moved out. Did some damage. Cost him a few grand to fix. And the rental market had softened. Rents dropped to $1,200. His cash flow fell to $300.
He tried to sell it traditionally. Appraised at $130k. Couldn't get an offer above $110k. Wasn't worth it.
So we talked through doing a 30-year lease option instead.
Two weeks later, he found a buyer at $152,000. More than $30k over what the market would pay. They're paying him 11% interest. His monthly payment went from $1,200 rent to $1,600.
His cash flow jumped from $300 to $800. His ROI went from 16% to 48%.
Same property. Different structure.
That's what opened his eyes. That's why he's now converting his other properties to 30-year lease options.
To your freedom,
Phil