Posted by Rich_Ga on February 11, 2001 at 20:19:18:
This is very possible, just be patient. As Ron said, try to talk the owner to give you title free and clear and just have a promissary note that you are responsible for. Thats what I did and the seller didn’t even charge interest. But make sure its a good low purchase price and the payments are reasonable that you can afford in the event you don’t have a buyer right away. Don’t know if you bought Lonnie’s books yet, but I recommend getting them. He gives a lot of good insight on this stuff. Again, be patient and don’t buy near the retail price or you won’t have any room for mark-up. You make your money in the purchase and sale difference, not the interest.