carrying back the loan - Posted by Jason

Posted by tom on October 21, 2003 at 06:06:12:

well back in the old days you could do a wrap mortgage. now the same is done with lease to own. however the legal situation is different with the latter. i would have to say i am not a big fan of lease to own, due to the unclear nature of the legal relationship. i do have two of them tho. one is going ok, and the other is a big mess. i am finding it true that people who cannot exercise their option are going to be mightly MAD when they cannot take title. so off to court we go…

i own a mortgage as well, and it was on a free and clear property. with a new buyer first you could do seconds on your properties…but on the whole i would have to say why get into lending? without bank leverage, your rate of return is going to way down over ownership, exchanging is out, your capital is tied up…where is the upside?

when i find myself thinking of doing lending, it is usually because i am not motivated to go out and find more deals (that is where you make your $$), or don’t want to get into something larger, etc. RE is scalable, why don’t you keep your return up by exchanging into some commercial property or apartments.


carrying back the loan - Posted by Jason

Posted by Jason on October 18, 2003 at 16:57:44:

My company has a few properties that we are considering carrying the loan or doing a wrap-around. However, I don’t really have a idea on how to do it. 3 properties we hold a mortgage on and 1 property we own free and clear. Any suggestion on what to do. Also any good reading material on lease options, just in case we go in that direction

Re: carrying back the loan - Posted by jasonrei

Posted by jasonrei on October 22, 2003 at 11:11:36:

“Sell Your Property FAST: How To Take Back A Mortgage Without Being Taken” by Bill Broadbent and George Rosenberg. A possible phone number is (800) 729-5147. I probably paid $25 for my copy, yrs ago.