Posted by Marty (MO) on September 06, 2003 at 13:49:50:
I’d focus on his having $7000 cash. Instead of looking for houses, talk to the managers and find motivated sellers- people who need to sell NOW. If you can convince him to be patient, obtain a list of repos in the area. You can easily buy a nice repo for $7000, then create a note for your sale price.
I think you’re on the right path, selling the house before you buy. I’ve only been able to do this once, so far.