how are you making money when taking deed to full price homes? - Posted by Nancy Cason

Re: how are you making money when taking deed to full price homes? - Posted by Brad Crouch

Posted by Brad Crouch on April 20, 1999 at 18:55:13:

Steve,

I never said it won’t work. I’m past that. The point I was trying to make was that just because you write something up, that doesn’t necessarily mean it will be accepted.

Negotiation enters in here. The more desperate a seller is, the more likely he is to go for this. Assuming he went for this deal, what would you do if your tenant buyer wanted the purchase price to be whatever the loan balance was at the time he wanted to exercise? Find another tenant buyer . . . right?

Unless you find some VERY motivated sellers, they might feel the same way. I think you could possibly find a seller who would accept this, but you’d have to offer them a reason.

Good luck,

Brad

well… - Posted by Tyler

Posted by Tyler on April 20, 1999 at 22:53:50:

If you really think it takes a person who is VERY motivated to walk away from 3k in equity, you’re quite wrong. Think about their options. On this house, they would have to come out of pocket to pay a realtor. In all reality, you are there BEST solution.

A seller with very little equity, is really up against the wall…until you come along and take it off their hands…for free.

Regarding the tenant/buyer, they won’t have any idea what the loan balance is if I’m doing a L/O, so they wouldn’t be able to negotiate a sales price of the “loan balance” as you suggested.

I set the sales price,offer a rent to own for a buyer who is chomping at the bit to get in. I am also a solution for a seller stuck with a property he can’t (or wouldn’t want to)list.

Quite frankly, in these deals, I’m superman to both parties.

NT