Posted by Brent_IL on August 23, 2003 at 23:39:38:
So you need someone who can qualify for an 80% LTV loan. If she wants $105K, write up a purchase contract with an approval of final walk-through inspection contingency. Advertise for someone with good credit who wants to spread out his or her down payment over five or ten years. “Renting? Let the IRS make your down payment for you.”
Create a little marketing buzz? - Posted by Mark
Posted by Mark on August 23, 2003 at 22:17:21:
I need to know if you think this is enough to create some ‘buzz’ and get this property sold
FMV: 130 - 135
Seller wants 105
Seller will give me a security deed for the difference if I can get the property sold. My plan is to:
place an add in the paper
*offer 100% financing (with 580 or better score)
*and/or owner financing
*and/or gift funds / d.p. money from one of the gifting sources (yes, it comes out of my cut)
print up some fliers to put at some of the apt complexes nearby
Is this enough? I hate to see a payday like this pass me by. If I can’t get it sold retail, and she won’t owner finance or do s.t., what other way can I profit besides buying it outright and selling myself on L.O.? Suggestions?