Is this type of deal possible? - Posted by Kelly

Real Estate Investing
1

Posted by Ronald * Starr(in No CA) on February 07, 2003 at 20:43:50:

Kelly---------------

Try it and see.

Good InvestingRon Starr*********

2

Is this type of deal possible? - Posted by Kelly

Posted by Kelly on February 07, 2003 at 16:27:14:

Would it be possible to set up a similar deal as this example?

Find home in Forclosure value approx $200k
Owner owes 195k
Negotiate discounted note with mortgage company to 130k.
write a sales contract
Find an investor willing to give you 150k
set up a simultanious close.

In this type of deal, I would walk away with 20k, the investor has 59k equity, and I have absolutely no out of pocket costs.

Can this be done?
Thank you for your comments.