Options on buying, FAST - Posted by Brad (GA)

Posted by dewCO on November 08, 2000 at 23:29:46:

I think you’ve named the most popular alternatives already Brad. If you’re asking for detailed step by step on how to do each, then there’s plenty of info on this site and in the archives. Also, these techniques usually only work if the seller is MOTIVATED.

Options on buying, FAST - Posted by Brad (GA)

Posted by Brad (GA) on November 08, 2000 at 05:41:17:

Hello again,

I just found a house in a nice area that needs fixing. It is a little below market value, but has 10 acres attached to it (development). This house will sell very fast. I currenlty own a house in the same area.

I would like to rent our current house and live/rehab the other. I’m wondering how I can get into the house without going conventional. I know that if I don’t have a rental/lease agreement on my current house, then I will not qualify to get a conventional loan for the rehab house, unless I put 10-20% down.

Any suggestions on how to get in? I.e. owner financing/ owner carry a 2nd, Lease/Option?