Posted by Sandy FL on January 24, 1999 at 17:03:03:
WOW. Sounds exactly like an ad I read today in Ft Laud.
(there is probably as ad like that in every city in the country…) No way would most people here do that deal, just because there is no room for profit (for you). You have to be able to put someone in the home that pays more to you, than you pay on the loan + lot. In most areas of the country $592/month wouldn’t be the deal you seek. This is a retail deal, and you would be basically assuming this lady’s problems.
However, if its where you want to live, that may be a different matter.
Use this time, while you are waiting for your course to arrive, to learn home values in your neighborhood, make lots of calls, and ask lots of questions. And don’t forget your local RE clubs and to read every shred of
material on this website.
Hope this helps,