We understand this Real Estate Seller, and are willing to do such. Its not shady LLC’s that have caused this crisis. Its a lack of education on buying, holding, or exit strategy. A lot of the foreclosures are manufactured against the homeowner as well. Having 1st hand knowledge of this, and attempting to prevent a such a crisis is impossible! Homeowners and investors are hurt by the attorneys, and judges in most of these cases!
One of the principals has the 620 credit score plus $250k in a 401(k), plus we’re buying insurance besides what the bank pays for. This ins pays the balance of the principal of the loan upon maturity as additional collateral. Somehow trying to get people to do honest biz below 9%. We have no problem being a guarantor the problem is only being able to have 10 homes in your own name.
Our intent is to purchase property, and resell the corporation. Hence selling a corporation with loan in place on the home as an asset of the corporation. Being able to do this way will help our investors who otherwise would have more hoops to go thru to purchase in the USA. Plus with our name being on the corp we will retain an interest in the loan since we are qualifying for it, and selling this way. ALL input and help is greatly appreciated!