Financing a fixer-upper - Posted by Paul

Posted by Brian - California on March 30, 1999 at 22:37:19:

One of the ways I’ve heard of doing this is to create your own mortgage to cover the purchase and fix-up costs and sell the mortgage to a mortgage broker. Once you have sold the house, you will be able to use the proceeds of the sale to pay off the mortgage and keep a profit off the top.

However, I’ve never actually done this. There is, though, an excellent article on this web site, under the how-to section, written by J.P. Vaughan which describes this exact process in more detail.

Good luck!

Financing a fixer-upper - Posted by Paul

Posted by Paul on March 30, 1999 at 20:38:10:

How can I finance the purchase of a fixer-upper and renovation costs with no money down, and the seller wants all cash out ASAP? I have enough in unsecured lines of credit to purchase, but not to fix up (this is an expensive way to go anyway). Where are all you creative investors???

Very similar question on the Cash Flow Forum - Posted by John Behle

Posted by John Behle on March 31, 1999 at 14:41:53:

Just answered a question over there that showed some creative options and techniques that might help in the deals you are looking at.

Just click on “Cash Flow” at the top left of the screen.