I have a relative that is reaching the age where they wanna sell everything off and retire. He currently has a chunk of land in a good area of the city. Has a total of 12 lots with one that currently has a house on it and being rented. His initial plan was to develop it but has lost steam and wants to pull the pin. The price he gave me I feel makes it a very rare opportunity to just hold onto it and sell mmoff to a multi unit developer/contractor or something of the sort in one deal. I have just bought my first two single family homes this past year using the brrrr method. Everything worked out perfectly but I have looked into it and am unable to gain financing from any conventional lenders to attempt to figure out a deal. I am wanting to know of any lease to own,seller financing or contracts where I would be able to approach him and pitch ideas for me to purchase it or take control of it find a buyer then pay him back. Any help input or advice is greatly appreciated!
Or any methods to acquire it that will benefit the both of us.
Join the Largest Real Estate Investing Community
Basic membership is free, forever.