How creative can you get to grow your wealth?

8 Nov 2022 · 0 min

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0:26

Steve D Valentine describes a creative real estate deal where he bought a house for $740, negotiated a car appraised at $80,000 down to $40,000, then restructured the transaction so the house price went to $780 with the car added for $1. He flipped the house and ended up with the car free and clear.

Questions this video answers

740 (as stated in the clip).

$80,000 ("80 grand").

$40,000 (he was allowed to buy it for 40 grand).

780 (speaker confirms "780?").

$1 ("Threw the car in there for a dollar.")

So we had paid 740 for the house. The car appraised at 80 grand, and he let me buy it from him for 40 grand. So I raised the price on the house. 780? Yep. Threw the car in there for a dollar. And then we flipped the house. Well, the house made a little less than what it should have because we raised the price to cover the car. But it shows that I paid a dollar for the car. So now the car sits in my garage, and we own the asset free and clear.