Marc Cannon Rental Deal

 

Marc Cannon Rental Deal

Cannon Properties Group in Phoenix, AZ

Cannon Properties Group entered a joint venture agreement with capital investor and we created our entity RBMC Properties ( Rodney Brown Marc Cannon Properties) and we acquire properties. This single-family 3-bedroom, 2-bathroom 1439 sqft residential home includes covered parking. We purchased the home for $160,000 off a pocket listing 20% below the median home price in Phoenix. The home is currently occupied on a long term lease with an option to buy. The occupants of the home are incredibly happy for with the security that comes from being in the home long term while their children go through school as well as having the prospect of homeownership. The investor is happy with the immediate and consistent cash-flow ($738.50 PITI, $1,475 rent) as well as the capital growth and tax benefits. Win-Win for everyone!

Rental Details

Property City: Phoenix
Purchase Price: $160,000

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Case Study

How did the FortuneBuilders team and resources help you to accomplish this deal?

FortuneBuilders and their affiliated services such as Mind Protein and NCH have continued to provide me with the core education, web design, and entity structuring. This has allowed us to establish a real estate business that meets my specific needs for safety, security, immediate cash-flow, tax benefits, and capital growth. I have been with FortuneBuilders for 4-years. I’ve faithfully attended multiple Bootcamps, and worked many hours through the curriculum. At this very moment, I’m on the Crush It Crew at the Phoenix Bootcamp working the FB Apparel booth in the lobby bummed I’m not in the Marketing Bootcamp session. FortuneBuilders has given me the vision and belief that I can change my legacy with real estate.