Posted by Randy on October 06, 2003 at 10:42:04:
You could create a beneficial interest with a Performance Mortgage and a Option to Purchase agreement. Email me if you want more info.
How do I partner with the seller… - Posted by Johnnybuymore (in VA)
Posted by Johnnybuymore (in VA) on October 05, 2003 at 17:33:37:
Seller has house worth $250, has $100k in equity and wants to maximize return. I think the best way to handle this deal is to partner with the seller. They give me an option and we put in place a sharing arrangement for the net equity (maybe 80%/20% [20% me, min $15k]).
We sell retail and offer seller financing, then we cash in the note to get the seller, and me, some cash. I hold the 2nd.
Since I need to have a beneficial interest in the property I need to have skin in the game. This is a different option then what I am used to, sounds like option + side agreement?? I dunno.
Any ideas how I should structure this up with the seller? Any sample agreements that anyone can send?
Thanks in advance…
-J
hrjiyzloaeth AT spammotel.com
PS- Thanks to Randy for his help on this so far…