paying for sellers housing for next 6-12 months

Foreclosures, Short Sales, Tax Foreclosures
1

Hey guys,

I’ve heard many solutions in which the investor offers to pay rent for the homeowner for the next 6-12 months so they can be worry free and help get things back on track.

My question is, what is the process for doing so? Who’s name goes on the lease? How is it funded? What other things should be taken into account?

Thanks in advance,
Ryan

2

Dont quote me on this but i think that would be called a co-operative assignment.I believe this is how they do it.They contact an owner that can’t sell their house but they have a little equity in it(say 10-15%).So they tell them they will lease it for so many months and then purchase it.They then find a buyer that cant purchase a house(dont have much to put down and credit not real good).The buyer gives you(the leaser) 1k down and has an option to purchase in 1 year.You then get your t/b in there and he’s making payments plus you’re making a little cash flow.The t/b is making his payments on time to you during that year,then you get a HUD 1003 and get the info from the t/b and send it in to your mortgage company,then all goes well and you close at the end of that year or sooner. I think this may be called a Sandwhich Lease Option.

3

thank you for your reply “real deal” but i’m not referring to a sandwich lease.

i’m talking about if a homeowner is going to deed me over their home. part of my solution could be that I offer to pay the first month, 6 months…rent of their new home, apartment…whatever.

i want to know how do you go about structuring this. does their name go on the lease? how do you make the monthly payments? is it held in some sort of fund?

hope this clarifies.

thanks,
ryan