PLEASE HELP! GREAT OPPORTUNITY BUT NO RESOURCES

General Real Estate Investing
1

Hey guys…

So I have a land owner who is willing to give me interest to her property in exchange for making her payments.

The loan on the property is currently $400,000 and the payments run around $2200.

After I develop the land, it can be well worth $1,000,000.00

I am going to seize this opportunity but I HAVE NO IDEA WHERE TO START.

  1. Should I get her to quitclaim 40% of the interest to me?
  2. What forms do I need to make this legit?

PLEASE HELP

2

You need a purchase and sale agreement whereby you take title to the property subject to the existing financing. At settlement, you get the deed.

Once you have title to the property, develop it to your heart’s content.

Consult your favorite real estate attorney for specific details.