We've officially closed on property #13. This is our second owner financing deal but unlike the first one we did, this one is for a longer term. There is a 7-year balloon payment on this one but it could go longer if both parties decide to do it. I have a feeling if we did anything we'd be refinancing with a bank, pulling out some cash for more properties, and paying off the seller financed loan. There isn't anything really special about this one. It's part of the 6 property group we were looking at, but we only came out with this one due to the foundation issues at most of the other properties.
This property gets us closer to our first Million goal of "Own A Million". We're only 2-3 properties away from that goal and we're pretty excited about it. I can't imagine we won't hit that goal this year.
In case you were wondering, the other "Million" goals are:
-- Revenue a Million
-- Cash Flow a Million
-- Profit a Million
I have no idea when we'll reach either of those. I assume the next one is a few years out but the first one sure will be special.
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