I'm tired of renting. I am working on qualifying for a mortgate, but won't be ready in time for my lease expiration in March. The house could use a little work, but not a tremendous amount. It is in a great up and coming area and the property values continue to rise. I was going to just do rent to own program for another house, but I don't want to pay too much, I also don't want to move.. I thought it might be better to offer to buy the house from the landlord, but I'm not sure they're ready to sell. Maybe a good cash offer might help change their mind.
So, my questions are, is there a way for me to buy the house and continue to live in it, fix it up then flip it? Or start an llc and get hard money or something to buy the house and just go ahead and move and still flip it? How do I convince an owner who doesn't want to sell?
I would start talking to the owner and let them know of your intentions. See if they want to sell and what they are looking for. In regards to a cash offer and a LLC. I am not sure if you are going to find a hard money lender that is going to lend on a property that you live in. Your best bet is to get a FHA loan or conventional mortgage and it will be at a lower rate than hard money. You could use hard money for other properties that you are not living in.