Posted by Bill Jacobsen on August 23, 2007 at 17:56:43:
Do yourself a favor and wait to buy investment properties once you can afford them. What would you do if you had one vacency? The property won’t cash flow then. Most businesses go under because they are under capitalized. Don’t be one of them.
Bill
HELP - Posted by AhmadT
Posted by AhmadT on August 23, 2007 at 13:51:41:
I have an opportunity to purchase my first investment property a duplex that is FREE & CLEAR. Realtor say owner may consider a land contract moreso than a RENT TO OWN lease option to purchase.
Realtor wants detail how a RENT TO OWN & RENT CREDITS would work as well as the 60 months term I’m selling. All of this isn’t a problem explaining. Problem is selling agent on taking back a note for comission & seriously I haven’t their commission so if someone can help me guaranteed the agent/broker their pay amgonst other things it would be greatly appreciated.
My thoughts are to sell them on having the seller to refi for no more than 50%LTV & take over the payments on lease option although agent perfer land contract.
Any suggestion for this deal NO MONEY DOWN AT ALL.