Updated almost 20 years ago on . Most recent reply
Credit Partner?
Hello, I have stumbled onto what I beleive is a good oppurtunity. I would appreciate some feedback,as I am new at this. I am working with a company called Project Initiative.They find a property in good shape @well below market value. I purchase property using my exellent credit score and obtain a stated income loan. At closing they issue me a legal binding purchace contract with a delayed closing date of 12- 24 months.They then lease option the property.They give me the payment guaranteed 5 days b4 due date. When tenant options to buy I am of course released from the lender. Property in question will appraise @ 165,000 to 175,000. Owner only needs to get 105,000. Also @ closing they give me 10,000 for a down payment. I have no hands on at all.Does this sound realistic and doable???[/b]