Posted by Ronald * Starr(in No CA) on August 22, 2003 at 13:10:42:
David-----------
Sounds good to me. Just do it.
Good InvestingRon Starr**
Buying investment prop. w/ owner financing - Posted by David
Posted by David on August 22, 2003 at 11:35:53:
After looking for an exhaustingly long time for financing for my rehab projects I have decided to approach sellers to carry the mortgage untill work is complete and the house is sold. I have the funds to do the rehab myself, are there any comments or advice that anyone can offer in re: to seller financing. Thanks in advance for anyone’s help in this matter
I like Brent’s idea - Posted by rm
Posted by rm on August 23, 2003 at 08:55:48:
And, I think it’s critical to get a deed before you start work on anything.
If you have any difficulty negotiating this, ask the owner, “Mr. Seller, if one of the workers is injured while working on the property, do you want them to hold you responsible, or me?”
No deed, no deal.
If they own the property free and clear, you can have a mortgage on the property to secure their interest.
Start at 0% interest; work up on request. - NTXT - Posted by Brent_IL
Posted by Brent_IL on August 22, 2003 at 18:41:59:
.
Re: Buying investment prop. w/ owner financing - Posted by Shawn J. Dostie
Posted by Shawn J. Dostie on August 22, 2003 at 13:53:01:
Make sure you hav an attorney draw up the docs in your favor so that the seller doesn’t become the beneficiary of your time and money.
Good Luck,
Shawn(OH)