Need your help - Posted by Denetra

Posted by Denetra on August 06, 2005 at 16:58:06:

The answer to your first question is Columbia,S.C. I can afford no more than $1200. I can become credit worthy in 2-3 years. I had spoken to a realator and we were discussing one year. I was planning on using my 2005 tax refund for my option consideration.

Need your help - Posted by Denetra

Posted by Denetra on August 05, 2005 at 09:46:48:

I need advise on purchasing a new home. Ultimately, I would like to do real estate investing. The home I would like to purchase is currently in foreclosure. The market value around $96,900. The asking price is $134,900. I want an investor to purchase the home for me. Lease it to me with the option to buy. I have bad credit due previously being ill and no money down. I know I should not even want a house if my situation is that bad. I could care less about the money made. I just want to get in the house and eventually obtain ownership. Please help.

Re: Need your help - Posted by Brian (UT)

Posted by Brian (UT) on August 05, 2005 at 13:35:01:

Denetra

If your post is correct, why would anyone want to pay $135,000 for a $97,000 house? Is there a secret gold mine under it?

No investor I ever met would contract to such a thing

Brian

Re: Need your help - Posted by John

Posted by John on August 05, 2005 at 10:21:39:

Where is the property located? Can you afford about 1200-1400 mo lease payments? Could you become credit worthy in 2-3 years? How much cash do you have for option consideration? You probably need a minimum of 5K - 10K to do this.