First Time Prospect - Posted by Tim W.

Real Estate Investing
1

Posted by Rob FL on May 13, 2000 at 15:49:41:

If the 1st mortgage is assumable and she doesn’t need any cash down, why don’t you make her an offer with her holding a 2nd mortgage for the balance.

2

First Time Prospect - Posted by Tim W.

Posted by Tim W. on May 12, 2000 at 22:33:03:

I’m a newbie to REI and have a first prospect as follows.

List price on Single Family Home is 94,800. (I expect a sale price around 89,000, on the market since 12/99.) There is a 56,500 assumable Mortgage at 7.875% and monthly payments of 629.19 inc PITI. Woman, 85 yrs old, who moved in with her daughter, needs no cash down, but needs monthly income. I want this to be a NMD deal with PCF. It’s not a rental now, but should support about $875 monthly, max. Any suggestions would be greatly appreciated!

Thanks
Tim