Posted by Phil Pelletier on September 09, 2003 at 18:47:30:
These numbers look amazing for a great loan on some investment property. In my area (Portland, OR), places are flying out the door at a 10 cap rate. This appears to be a 13 cap or better. Lock it up and I will buy it from you for $179,000. You can make $6,000 in cash for bringing me the deal. That may be the only way you can benefit from this transaction. No offense, because I have been right where you are, but lenders usually look for a strong income or a strong credit score, or both. You may not qualify for the loan in your current situation. Lock it up with some earnest money and call me at 1-503-709-8184. I may be able to buy it from you so you can walk away with cash on closing day.