Posted by CB on October 28, 2004 at 14:40:33:
The last post was a good one for a lease option but will the lease payment be enough to cover a down payment… Please advise on how much equity there is.
He sounds flexible so ask him the minumum amount of down he will need for his equity position in the house.
Another creative option is to create the note via seller financing then have a note buyer come in to buy the note for a minumim discount for cash at closing.
Go to www.notesfunding.com and get a quote since they can setup the deal for you. This is if you can not get conventional financing. I am not endorsing them but they have creative strategies for note buying…
You get in the property with your bad credit and the seller gets his monies at closing cash. You can still lease option the property but you will make payments to the note buyer and the nice thing is you can negotiate the interest rates with the seller…
Good luck email me if you need more info…