basically, the seller wants cash 50,000-60,. tenants are already in the property. there is an assumable mortgage of about 90,000.00 tenants paying about 500.00 per unit.can some one based on the above scenario tell me how to structuere an offer with no $$$ down
what technique can I use with no $$$ down if the seller wants $50,000.0 I appreciate anyone who can give me feedback.
Sounds like you may not be able to do zero down here even if you want to. I am assuming the property is a duplex and with a total of ony a grand a month income the current owner is just breaking even at best. If it is a fourplex and renting for a total of $2000 per month and appraised for more than you are paying you probably can do a zero down short term deal. There are some lenders that do high loan to value investor loans and I have heard of 100% investor loans with a+ credit. I do not personally know of any. If the seller will finance a part of the purchase price you may be able to get 100% financing too.
Good luck and thank you,
Ted P. Stokely Jr
11505 Sw Oaks
Austin, Texas 78737
512-301-9171 home
512-587-6177 mobile
Zero down and no qualifying? if so, I don’t see a way. When the seller needs cash - lease purchase/option won’t work.
Zero down and qualifying? Maybe, check around with local lenders - perferablly ones in your local investor group that understand what we do. There have been and are programs that are for the investor that are zero down.
Wendy Patton