Posted by Mark (SDCA) on March 15, 1999 at 16:30:14:
You responded to my post below about highly leveraged properties and I think I understood most of what you said. grin But I did have one question.
You said that you advertised for a buyer to come in no money down, no bank qual, pay all payments and costs for X years. In another place, you were talking about getting dollars over and above closing cost (at COE I take it) and then positive cash flow for those X years. I didn’t understand where all that was coming from. If the buyer is coming in with 0 down, is the seller paying all closing costs plus whatever you take as profit at COE? And is the buyer paying mortgage payment + your cash flow?
Tks,
Mark