How Can I Buy Subj To, Sell Improvements & Keep Dirt? - Posted by Soraya

Real Estate Investing
1

Posted by chris on May 12, 2000 at 22:25:05:

Soraya-

I remember hearing about this in the past in a commercial situation. If I remember correctly it is common with the oil companies to do this with gas stations. The transaction mechanics escape me now. If you head over to the new commercial board you may have better luck with an answer.

http://www.real-estate-online.com/commercial-real-estate/wwwboard5/index.html

-Good Luck,Chris

2

How Can I Buy Subj To, Sell Improvements & Keep Dirt? - Posted by Soraya

Posted by Soraya on May 12, 2000 at 21:37:58:

Any ideas on how a person can buy property subject to the existing financing, sell the improvements and jerk the land. I like the idea of having a 99 year land lease.

I think you could record a land lease, sell with a short term wrap around loan with a balloon or do a lease option and then when the buyer exercises his option or refinances to pay the balloon, the land lease would go into first position. I know there are lenders out there that loan on leased land.

BUT IS THERE AN EASIER WAY.
I heard that A.D. Kessler and Robert Allen do this, I just don’t know how.

Thanks in advance for your input
Soraya