Posted by Ed Garcia on January 10, 2001 at 22:00:51:
Tom,
Call the D.A., describe to them what you’ve shared with us in your post. What ever they tell you, I’ll go along with.
( Smile)
Ed Garcia
Is This Legal Ed ? - Posted by Tom
Posted by Tom on January 10, 2001 at 20:03:31:
I found a 4-family with a subdividable lot approved for a multi-family. Asking price is 699,000 in a very good neighborhood. The lot by itself is worth 200,000 to 250,000 but this is a package deal. Rents on 4-family can go from 1500 to 2000. I have good credit 780 but little down payment money.Owner has a broker they work with and they would say I put down 30%. the broker would appraise the property high so owner can get what he wants out of the deal.Is this legal? would I be able to afford this property with a high mortgage? I am going to sell the lot Or is there away I could build and just collect the rent from new multi_family? I hope this Is not to long. I am new and just want to cover my bleep. Thanks in advance. This is a wonderful site.