Structure - Posted by miwexler

Posted by Charles Parrish on April 09, 2006 at 15:46:03:

Are you trying to defraud the lender? It could be looked at that way. But to answer your question; 1. Have the seller give you a check for 20% of the sales price to represent repairs to the property, endorse the check and give it back to the seller as a downpayment. 2. Write an offer to buy it at a discount and sell the property at auction before settlement NO BANK LOAN NEEDED! 3. Partner with the seller, write a Hybrid Offer and flip the property, seller gets X amount over your offered price and you get X amount. Sell it at auction.

You should always be fair and honest in all your dealings with sellers and lenders; things have a way of going wrong when you don’t expect it.

Good luck,


Structure - Posted by miwexler

Posted by miwexler on April 08, 2006 at 09:22:02:

I want to start making offers on properties that would require the seller to take back a seller 2nd for 20% and then rip it up after closing.

How would I structure the deal and the contracts to cover myself.

I can then make 80% offers on properties, and get the financing at a decent rate in order to get cash flow.