Newbie, needs help fast - Posted by N.Battle

Posted by tang-0-rang on March 06, 2000 at 10:34:44:

is this going to be a house you will rent out, or reside in, or use in a sandwich lease/option, If a Sandwhich L/O the thing to do is find a potential tenant/buyer that has $2-3,000 in option consideration money, you then use this to give to your seller, he inturn gives you owner carry terms, YOU inturn give YOUR T/B owner carry terms with a larger purchase price and higher interest rate to further the spread and increase the profit. hope this helps
my .02
Todd Williamson (CO)

Newbie, needs help fast - Posted by N.Battle

Posted by N.Battle on March 05, 2000 at 17:18:19:

I am very new at investing however, I have read a lot of information on the subject, and need help fast here it is I found a house that market value is 12,200 the seller will sell on a lease option but he wants 15,000 he wants 2,000 down $200 a month for the next 24 months at the end of 24 months the remaining balance needs to be paid the problem is I don’t have 2,000 to pay down for this house the house is a two bedroom house one room is very large and the other room is small can anyone help me come up with a creative way to get him to drop his price I need help fast I will be giving him a offer in two days Thanks in advance.

Re: Newbie, needs help fast - Posted by TC

Posted by TC on March 06, 2000 at 20:45:14:

If you can get that much option consideration,that’s great.You just want to make sure that you have a lease agreement and a option agreement and keep them seperated from each other.If it ever came down to the tennant taking you to court the judge may look at it as a sell and then you may have to foreclose instead of evict.