All Forum Posts by: Jordan Archer

Hey BP,

This is something I want to know in order to reassure some of my buyers...

So, I want to buy/acquire homes subject-to. I then want to find a buyer (one who can't get conventional financing/loans) and sell the property to them with a wrap mortgage. (These are all techniques I heard from podcast #70 btw).

I'm wondering now, will a bank give my buyer a conventional loan on that property later on when the buyer's credit improves? This mortgage would of coarse be used to pay off the original loan that I would take over subject-to.

I'm wondering, because I want to make sure I can assure my buyers that they will be able to refinance the home later on from a bank, hence making this a smart purchasing option for someone not able to currently acquire a loan.

Thanks BP!

I want to buy/secure a house using a lease option.

Could I rent the house out instead of living in it myself?

I wanted to buy a house with a lease option and sell it with a wrap...is this legal/possible?

@Corby Goade 

Welcome man!

@Michael Quarles 

Ok, Great!

I appreciate your help.

@Cory E. Functional obsolescence is one that I hadn't considered. Thanks for the advice!

@Thomas Weir So what is the problem with it, and how do you know if it's Chinese?

@Michael Quarles Can you please explain to me when this memorandum would be used in the transaction? 

Would this be signed by the seller and myself in conjunction with the selling contract? 

Also, would this document be signed THEN notarized, or the other day around?

Thanks,

Jordan

@Annette Hibbler Thanks for the affirmation!

@Mike Gallus I appreciate the contractor point of view

@Annette Hibbler , @Steve Babiak , @Steven Velez , @Daniella Ortiz 

Thanks for your input and suggestions!

- Jordan

@Michael Quarles That I'll do; great tip. I'm wondering then, if I have the house under contract, what should my offering price be?....more like 65% of ARV?