Updated about 9 years ago on . Most recent reply
How would you creatively acquire this property?
My friend knows a previous landlord who is selling a property that includes a side by side 5 plex, a 2 story house with a basement and 2 car garage, and 1977 16 x 70 moblie home that is current owners residence (on a permanent foundation, with a large addition, porch, deck & 2 car garage. There is also a 2 carport and storage shed. All have metal roofs. This property is on a reservation, but isn't owned by a tribal member.
The seller is motivated to sell, because he is moving. He has lowered the price to $299,000, but he has told my friend he might lower the price more. He is asking for $30,000 down OAC, 6% for 5 year balloon. Monthly payments at $2,000. $1,000 net per month
How would you approach the owner to creatively finance this, if you didn't have $30,000 down?
How would you approach the owner to creatively finance this, if you did have $30,000 down?
Could the house be lease optioned out to someone else (or better, lease option out the mobile
I wish I could upload Rich Weese's knowledge into my brain (But I have been reading No (and low) Money Down By Brandon Turner (Thanks Brandon!), to think creatively, to get into real estate