Using own cash for financing

 

Whilst looking over listings on the world wide web, you observe a three acre property situated on the highway. You call the listing agent and she lets you know that the property is an estate sale, meaning the first owner of the property died and their family is settling the estate. You look at the property in person and can tell it would make a excellent investment. Th e listed price is $7,000. You off er $5,000 and they counter at $5,500. Since you trust your intuition and know a good thing when you see it, you settle with the listing agent for $5,500. You have some money saved up from the previous 2 years in an account, earning half of 1 percent interest, and opt to use it purchase the property. You close in 3 weeks using a new property.

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