There are numerpous articles about buying subject to using land trusts. Then you can also do contract for deeds and lease options. As an investment property you could probably lease/option it out and get most of the 4K back. If there is any fix up you are in the hole. If the seller and a new buyer are willing(to keep the existing loan in place) you can sell them the interest in the land trust for cash or a combination of cash and payments. Knowing how to do it and having the parties willing is what makes you money.
Posted by Robert in Tex on February 12, 2000 at 12:34:14:
How do you get around a loan that is qualified assumable.
Owner wants 4k down and the balance is 55k at 8% with payments of 621.00 per month. Lender requires for buyer to qualify. House is located in an excellent neighborhood.
This house could easily sell at about 70k.