Mark Evans DM bought a house in Columbus, Ohio for $1 using a Coverdell Education Savings Account with $2,000 in it. The sellers were exhausted from landlord problems and wanted out. He later sold it for $45,500.
$1
$45,500
Coverdell Education Savings Account
$2,000
Columbus, Ohio
How? We bought a house for a dollar, mark, in your SESSA account and sold it for $45,500. So what does CESSA mean? Mark Coverdell Education Savings Account. So it's a CESSA. It was funded at $2,000. Yep. That's your contribution that was funded. And now we can take that $2,000 and we can invest into assets, self directed assets, that is. And we happen to do it on a single family residence house in Columbus, Ohio. We bought the property for $1. Why would someone sell your property for a dollar? Because I want it. Because you wanted it. That's a good answer. The reason the guy sold it for a dollar is because he was sick and tired of dealing with the landlord issues and tenant issues, and it was more of a distraction instead of an opportunity. And he's like, just take care of it and help me out.
