I am currently a "BIGGERPOCKETS-SPONGE" who is an amateur in the real estate industry. The question which I will like to ask is; Is it possible to agree with a seller under the seller-finance terminology then turn around, complete some renovations on the property, and finally rent/sell it to another prospective buyer/renter?
Hi Greg, if I'm understanding your question correctly, then yes. If you properly purchase a property (say that 3 times fast!) via owner financing, then you should be free to do with it as you please, though of course if you sell it you have to make sure you get enough to pay off your original seller. That said, as in a due on sale clause, you may not be able to seller finance to a subsequent buyer depending on how you structured your original purchase contract, but otherwise it should be fine I think.
Thank you, sir. This sounds great. I will try to venture into this opportunity.
When you improve a property you have to have title
Sub to, wraparound mortgage, etc. gives you title
Lease option, etc does not
Get title, improve and resell for profit
How do I obtain a title under the initial agreement with the original seller?
I am having some trouble understanding. Can you please share a scenario from your previous statements?
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