Posted by GL(ON) on February 22, 2002 at 09:35:53:
It’s a lot easier to get low interest, high ratio loans than it used to be. Why not try for a conventional loan for your buyer?
Most of the creative finance techniques, and real estate courses, date back to times of high interest and tight money.You may not need them anymore, at least not all the time.
Buy with Hard Money/Sell with Owner Financing? - Posted by Andy in Indy
Posted by Andy in Indy on February 21, 2002 at 18:34:05:
Please give me your opinion(s):
I was thinking that the following would be a good idea as I begin my real estate investing career…
Use hard money or private investors to buy a house in need of repair for 70% or less LTV.
Repair house with the hard money/private lender money.
Offer to sell the house using owner financing.
Sell the note to a note investor at closing for cash.
Pay off the hard money/private lender.
I have learned that using hard money/private lenders are an awesome way to buy fixer uppers. I’ve also learned that a great way to sell your house quickly AND get mostly cash is to offer seller financing, and then sell that note at closing to a note investor.
I thought combining the 2 should work great, but I wanted to see if there is anyone out there who:
Is doing this exact same thing, who can give some advice.
Has some tips on exactly who to study, what steps to take to get the ball rolling, etc.
Knows of any hard money lenders I should contact, what to say, etc.
Would like to help me through my first deal in return for a chunk of the profit!
I will research the archives for similar info, but I wanted to ask this now to reach those who are currently involved in this sort of transaction. Thanks for your help.
Re: Buy with Hard Money/Sell with Owner Financing? - Posted by JoeS
Posted by JoeS on February 22, 2002 at 07:17:24:
Yes, I have been doing this for 7 years. Great way to go. But, you take a hit on the discounted sale of the note.