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Forums » Selling Real Estate » Finding an almost qualified buyer

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Tag Tags: owner-finance credit-repair


Michael Petersen

Real Estate Investor · Chicago, Illinois


Forum_avatar_avatar-redmike

Sep 29 '09, 06:43 AM

Any ideas on how to find a buyer for our condo in Chicago who would be a candidate for owner financing or rent to own? Like someone who has damaged (not destroyed) credit or needs time to save for money down or job credibility? :roll:

Edited: 06/26/2010 at 09:52AM


Brian Levredge

SFR Investor · Long Beach, California


Forum_avatar_avatar-bclev

Pro Basic

Sep 29 '09, 07:55 AM

You should probably advertise. There are many services that are free for landlords to advertise in. About 20% of lease options ever actually come to fruition. Many times things change during the course of the tenancy and the people change their mind about exercising the option, or simply unable to do so. Even though you get a bigger deposit and higher rents, the tenant is usually responsible for repairs and maintenance, which they often don't do. This could leave you holding the bag for a lot of money to fix up when they move out.

Edited: 06/26/2010 at 09:52AM


Jennifer Karlen

Residential Real Estate Agent · Kentucky


Forum_avatar_avatar-malok

Oct 01 '09, 10:27 AM

Brian is spot on IMO across the board.

Advertise and get it out there. You should be able to find someone that would be interested in your offer. Additionally, could keep an eye for local company layoffs, etc - there may be persons there that would be needing to find a new place.

Edited: 06/26/2010 at 09:54AM


Nick J.

SFR Investor · Scottsdale, Arizona


Forum_avatar_avatar-motiv8td

Oct 01 '09, 10:33 AM

Michael, there is such a thing as mortgage brokers that still do exist even after this recent downturn and the near extinction(sp?) of mortgage broker.

you need to learn how to have an affair with a mortgage broker and the fruits of that affair is not a love child but rather higher L/O exercises and more paydays.

go ahead, ask me what I mean :)

Edited: 06/26/2010 at 09:54AM


Brian Haskins

Real Estate Coach · St. Louis, Missouri


Forum_avatar_avatar-brianhaskins

Oct 01 '09, 11:07 PM

You can contact people that have recently had a dismissed bankruptcy.

Brian Haskins

Edited: 06/26/2010 at 09:54AM




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