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Property Area: FM 838, Overton, Texas 75684

This was a land lease-to-own deal, at $100,000 for 15 years at 12.75%

• Was a simple land lease agreement with a default clause for no payment
• The deed is still in my name until paid off and will be transferred to the new buyer
• Original Date = January 2023
• Total Payment Amount = $225,000 (which is $100,000 at 12.75% Amortized over 15 years)
• 157 Payments Remaining x $1250 = $196,000
• Monthly Payment = $1250/mo for 180 Months with annual tax increases
• Payment Term = Last payment in February 2038
o Willing to refinance at a higher rate for a longer term if less on payment
• No Prepayment Penalty
• Has not missed a payment in two years
• Poor credit history

This development was 180 acres total, and I own the last 10-acre lot left. So, I’m selling at a loss to close the project and move on.

The buyer currently pays $1366 a month, with annual tax increases. This is a 100% passive, cash-flowing business opportunity. There is no maintenance or services needed. You collect the payment like a mortgage company every month. The buyer is open to a higher rate and a longer-term refinancing to make this an even more appealing purchase. Or you can sit back and collect your monthly payments.

I will provide all the needed training; I've been a licensed broker and developer for 18 years in Texas and have moved to Florida. So I can show you how to find more deals and make even more money.