I have an owner with a property free and clear. not sure how to put this thing together.any advise would be nice…thanks and God bless.
Have you discussed any options with the owners as far as owner carry?
I haven’t discussed any yet. what do you think about l/oing from him
Ask him if he’ll refi and pull out the money he needs, then you take it over sub 2. With a 5-yr ARM Option Loan your payments will be very low and you could have a huge positive cash flow before selling.
For instance, I just got a $450K loan with a payment of $1191, plus PITI. As long as you can negotiate some equity to support this, it’s a great deal for you. If he’s concerned about a sub 2, protect his investment with a land trust.
Best of luck to you.
Da Wiz
See I was thinking why not have him create a note at 6-7% interest and carry that note?
And you still can put it in a Trust!
The place to start is to get a good deal on a property.
reoconsultants, I found out that he needs money to walk away therefor I don’t know if a carry back note would work.
wizard, if you don’t mind can you break that down a little to see if can understand it.
thank you both very much for your help, God bless.
How much is the property worth, and how much does he need? You have a lot of options, unless he wants to cash out. But you will get better answers if you post the numbers. Good luck.
she wants to cash out. Thanks for all your replies guys really preciate it