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All Forum Posts by: Jesse Gomez

Jesse Gomez has started 2 posts and replied 2 times.

Post: Need Opinions and Guidance

Jesse GomezPosted
  • Southern US
  • Posts 2
  • Votes 0

I'm tired of rat race! I am debt free, have 825 FICO, but only have $200K cash. How would YOU structure things and make this money grow, given our current state? I'm willing to try anything.

I'm a NEWBIE at Real Estate and act kind of like a bird dog. Recently I've run across a few people that want to purchase a home, but are mortgage unfinanceable today, due to credit, residency status, etc. They probably wont be ready to qualify for a mortgage on their own for a couple of years, yet housing prices/taxes keep going up. I sense an opportunity, but am not sure how to connect these puzzle pieces: 1.) potential borrowers have 20-25% down payment  2.) I want to some type of compensation to facilitate this deal  3.) I am debt free 4.) I have a 785 FICO 5.) I have about $125K cash to use. 6.) I don't think i want to hold property for more than 2-3 years--mainly just want to get in, then get out. 

I thought that maybe i should purchase the home as an investment property, lease it back to them for two years and then sell it to them once they are financeable on their own, but am not sure how i would incorporate their down payment into the transaction. Is this the best approach? What other mutually beneficial approach would you recommend to facilitate this type of transaction? I imagine i'll need Hard Money? What type of compensation seems fair to facilitate such a deal, knowing that purchasers are getting to move into a home and stop paying rent two years ahead of when they would be ready to purchase on their own. I would love to put together a lather-rinse-repeat plan, where i can repeat this over and over with new buyers. 

Signed, Newbie