Posted by evelyn on February 05, 2001 at 16:07:14:
thanks for clarifing. He has a seminar close to me in Ft. Lauderdale in a few weeks. I think I will be attending that seminar/workshop.
evelyn
Posted by evelyn on February 05, 2001 at 16:07:14:
thanks for clarifing. He has a seminar close to me in Ft. Lauderdale in a few weeks. I think I will be attending that seminar/workshop.
evelyn
structure - Posted by shawn hobson
Posted by shawn hobson on February 04, 2001 at 02:29:40:
Can anyone give me advise on how to structure a deal involving two seperate residential townhomes, both individual selling at a discount but wanting to cash out, not willing to carry back any paper. I was hoping to control the property a sell at retail through a broker.
Re: structure - Posted by Bill Gatten
Posted by Bill Gatten on February 04, 2001 at 15:06:08:
Shawn,
You might want to take a look at my advice to Greg above (http://www.creonline.com/wwwboard/messages/9766.html)
Bill Gatten
One of several ways - Posted by Monique
Posted by Monique on February 04, 2001 at 07:05:26:
Shawn,
Here is just one of several ways to structure this …
Consider buying the properties all cash, contingent upon you finding a buyer first – known by the folks around here as getting an option agreement. Say the FMV on the townhouse is $150,000 and that you’re seller is willing to let it go for $115,000 all cash.
At the end of both closings, you have bought and sold the property, you have $5,000 in your pocket and a 2nd mortgage (CASH FLOW) for $30,000.
Monique
GREAT POST, Monique! (nt) - Posted by Anne-ND
Posted by Anne-ND on February 05, 2001 at 16:31:42:
Yow ZAA!!
Re: One of several ways - Posted by Joe
Posted by Joe on February 05, 2001 at 07:03:38:
This way works great, I have done it for 5 years. The problem is now, it is almost impossible to get a mortgage on a flip. Where do you arrange for a mtg. loan for your buyer? Thanks for the help.
Re: One of several ways - Posted by evelyn
Posted by evelyn on February 04, 2001 at 20:58:19:
WOW…who’s course did you take to learn that!!!
Please let me know. That was a good answer.
evelyn
Re: One of several ways - Posted by Monique
Posted by Monique on February 05, 2001 at 10:04:22:
Joe,
We have some “enlightened” mortgage brokers that we work with locally in GA. The seem to always have lenders in their back pocket that can overcome the tough issues.
Monique
Re: One of several ways - Posted by Monique
Posted by Monique on February 05, 2001 at 12:15:46:
Let me restate that.
We learned about Options from Ron LeGrand. His “Cash Flow by Controlling Real Estate” course covers Lease/Options and Options well.
The part about targeting challenged credit buyers and using low LTV loans to buy at your option strike price, we stumbled upon just trying to work the deals. If it’s in there, just call me a bad student because I didn’t get it when he covered it.
Monique
Re: One of several ways - Posted by Monique
Posted by Monique on February 05, 2001 at 10:05:58:
Evelyn,
We have tons of courses, but didn’t get that one from any of them. Just came out of trying to get the deals to work.
Monique