Posted by Michael Morrongiello on February 04, 2000 at 20:47:02:
Remarketably Free & Clear properties are sometimes hard to sell…
They are also excellent candidates for creative offers involving lease options (which you have laid the framework for) and for asking the seller to owner finance you.
Your lack of a down payment might present some problems however if the deal is good enough you can always attempt to bring in another co-signer or down payment partner.
With a properly structured note that the seller would hold you can many times get that seller immediate CASH at closing (significant amounts also) and monthly income. Just what an elderly landlord who is probably burned out on managment type wants.
Feel out this seller and find out what is important to him? CASH now ? How much? and / or monthly income without hassles? or a combination of both
If you need assistance in putting this one together I would be more than willing to assist.