Posted by Mike on January 20, 2001 at 21:17:18:
James,
I would have him call me back when his contract is up with the broker and do a lease option.
Later, Mike
contract for deed? lease option? - Posted by james
Posted by james on January 20, 2001 at 20:04:30:
I,m very new at this but very motivated. I have an ad in the paper, full price if you have flexible terms. I close on my first rental on 2-7. I was contacted by a seller today that has a property listed with a broker but has not sold. They need a bigger house and just want a small down payment and take over piti of $400.00 per month. The house will rent for $450.00-$480.00. It has a 5yr. old mortgage. How can i structure this without the lender knowing until i’m ready to get my own loan or re-sale? 36-48 months. Owner seemed very motivated. What about the contract with the broker? Thanks for your help. james