Options on buying, FAST - Posted by Brad (GA)
Posted by Brad (GA) on November 08, 2000 at 05:41:17:
I just found a house in a nice area that needs fixing. It is a little below market value, but has 10 acres attached to it (development). This house will sell very fast. I currenlty own a house in the same area.
I would like to rent our current house and live/rehab the other. I’m wondering how I can get into the house without going conventional. I know that if I don’t have a rental/lease agreement on my current house, then I will not qualify to get a conventional loan for the rehab house, unless I put 10-20% down.
Any suggestions on how to get in? I.e. owner financing/ owner carry a 2nd, Lease/Option?