I live in a lonnie deal now that I bought for 1200, collected 1500 in payments on, owner walked out, I moved in after college…basically a free house +300 in my pocket. I think it’s a great way to get a place cheap. I don’t plan to stay long in fact I’m looking to get out now and get into one of the RE investments I’m negotiating.
Is anyone living in a “Lonnie” deal? If so, how’s it going. Seems like a good way to obtain a decent place to live at an affortable price. I’m thinking that my first deal will be my own place.