Question???? - Posted by Mike

Posted by Richard Roop on May 18, 1999 at 10:11:31:

They borrow more money that the purchase price.


$100,000 price
$70,000 new loan (1st)
$40,000 owner carry 2nd
Gross is $10,000 at closing
You now own a house worth $100,000 and owe $110,000. In this case you are hoping for appreciation and principle pay down over time to balance this out.

But what if you only paid $90,000? That’s fair is there is no realtor to pay and you are solving the seller’s problem.

Question??? - Posted by Mike

Posted by Mike on May 17, 1999 at 23:25:06:

TO whomever wants to reply,
I would like to know how the people on carlton
sheets infomercial claim to get cash at closing everytime
they bye and close on a half a dozen a year???