Re: Newbie seeking help - Posted by Ed Garcia
Posted by Ed Garcia on May 19, 1999 at 10:20:03:
It?s one of those things that everyone has heard of , knows about,
but no one is doing.
The problem Mr. Barnes, is that we all have a tendency to take the
path of least resistance. There are so many other creative ways to do
deals that are easier to sell.
Can it be done, absolutely. The biggest player in the world of such a
vehicle was Michael Mulkin. That?s another story.
My suggestion, is to see what the market bares. As you find the deal,
The deal will tell you how to work it.
If there is little profit in your deal, then flip or lease option.
If it is a deal that you have a respectable profit structure in, then seller
carry back or borrow on one of your credit cards for the down, go to
North American Mortgage , and get a 90% loan with the 10% from your
credit card, giving you 100% financing on an None owner occupied deal.
Just a little food for thought on your first deal.