$7000 In Spare Time

I am trying to get out of the small town I have been in for the last 5 years and get back to civilization. I have been dragging my feet a little bit however as my daughter graduates in 5 months and hunting season was upon me. So bored, my friend needs $$ for siding his little house. He has had his eye on a property across the street for awhile. We find it is owned by a motivated out of stater. I structure the deal with an %80 LTV and $500 down from my buddy. To make a long story short, he got $7500 at closing ($7K after deducting the $500) and is cash positive $100 per month. He is siding his house now Deals are out there, even when I am getting skeptical of a town with 20% unemployment I stumble across the occasional one. It was a small deal but thought I would share. I guess the principile work just about anywhere! Randall[ Edited by Stockpro99 on Date 11/08/2003 ]