Posted by Tiesto on January 28, 2004 at 20:08:39:
Get the house under contract and assign it to someone else for a flip. Let the seller know that you can find someone who will buy it. YOu could give him a percentage down and ask him to hold the financing in his name while you rent the property out. Or you may be able to use the bank if you have enough equity in the home, looks like you may.
Pre-forclosure deal…need advice. - Posted by Mike NYC
Posted by Mike NYC on January 28, 2004 at 09:27:39:
I found a 2 family semi attached house with motivated sellers(divorce). The house connected to it is the mirror image just sold for $410,000.00. The owner owes 266,000.00 on mortgage and wants 40,000.00 cash. He will sell to me for 306,000.00 and needs some work appr. 20,000.00 to update. The rents wil be approx. 2450.00 per month total. My credit is poor. What should i do? any ideas?