I want to build my buyers list intially, to help with exit strategies. Then, I was hoping to put houses in central florida under contract for 65% or less of market value (if someone thinks my cap should be lower, please advise), then begin marketing them to my buyers list immediately in the hopes of finding a buyer before closing.
I would like to have an exit strategy available that will enable me to sell the house using a lease-option or seller financing. My question is, what is the best way to do this?
I was thinking that I would have to use hard money or private money and pay around 12% interest only. If I lease-optioned the house, would I be able to finance for a lower rate? If I used seller fianncing to sell the house, how woudl I cash out or reduce the mortgage to provide cash flow?