If this guy will take a lot less than the property is worth, then maybe you should create a note and sell it to give the seller his money and you get the deed. This way you ask no one for permission. Don’t know how to do a note? Time to go to school…go get your school from any of the reputable “note guys” you’ll find on this site. Don’t make this more complicated than it needs to be.
Afraid to do a note? Then "Tie up "the property and go looking for an investor to buy it from YOU! Then walk away with your cash…At least 40-50 grand of it!
Good luck and let me know what happens!
OK guys, need some help - Been constraining my interest towards properties w/ owner financing as I’m a newbie w/ little credit or cash, but found a Multi-family worth about 600,000 that I believe the owner will take 450,000-but wants all cash.
I was thinking that I could go through a mortgage broker for a new 1st-and find a partner for the down payment/qualifying.
multi unit commerical with partner - Posted by RR Smith
Posted by RR Smith on October 31, 2000 at 18:44:48:
Man this sounds good to me where do I have to go to marry the sister of this deal!? Actually rick you should post this on the “commerical REI” board. I have to ask which course “empowered” you to go multi as a first deal? This is halloween night and I have been posting to much lately, i feel like the Pat Morita of REI.