NEED ADVICE ON BUYING TWO HOMES FREE AND CLEAR - Posted by Julio

Posted by dewCO on November 09, 2000 at 22:18:25:

You need to find MOTIVATED sellers, not just properties for sale in order to do something creative, usually.

Don’t buy just some cash flow – you need to know the value before you make an offer.

To practice safe creative RE, you got to figure, if the seller isn’t giving terms, they need to give on price. If you don’t have any money hard money lenders will only to go about 65% of the value.

NEED ADVICE ON BUYING TWO HOMES FREE AND CLEAR - Posted by Julio

Posted by Julio on November 09, 2000 at 17:05:29:

Hello,
I’m pretty new at this and would like as much feedback as possible. I found a seller that has two homes on the market. A two family home and a single family on the same lot. He is selling them both for $230,000. The homes are on the same lot and I figured that for that area rent will be around 600-650 for the two family apartments, and around 700 for the home or more. The seller does not want to take back any financing and he owns the homes free and clear. I don’t want to let this oppurtunity pass, it seems like a nice investment. Any ideas on how to work this out…

Thanks,

JULIO