Posted by Charles Clark on April 05, 2003 at 24:02:18:
Hi Micheal,
Do you currently rent where you live? If so, then very easy for you to get a 100% loan. You can have the seller take 135,000 and make a condition that the seller pay up to 10K for painting & etc.
If you currently live in your own home, then you may be able to get 90-95% of the sales price as a loan, and many times only have to come up with 5% of your own money.
Good luck,
Charles
DUPLEX NO MONEY DOWN - Posted by MICHEAL
Posted by MICHEAL on April 04, 2003 at 23:07:22:
Hear is the situation.
This is a 3/1 duplex. The seller want $125000.00 He is very motivated. He said the property appraised for $166000.00 which I will verifie. It is also zoned R5. Both units are renting for 725 each with a renters bonus for paying early (650). Landlord has had trouble with one renter and is currently putting them out. The house needs paint on the inside new carpet and some landscaping. He wants to close fast. I told him I may be able to do it in 10 days. Well what I want to do is figure out what price to offer this guy. I want to do this deal with no money down and get money back for repaires. If i have to bring a down paymet I want to get it back pluse money for repaires at least $10.000. any suggestions or a diffrent way to do the deal are welcome. My credit score is over 660.