Posted by Matthew on March 21, 2001 at 20:53:20:
Awesome job Terry… That is Very Creative. I may use that idea 
Thanks,
Matthew
successful sheets buy - sell - Posted by terryr
Posted by terryr on March 21, 2001 at 20:45:53:
here’s how i did it: house in probate in desperate need of rehab BUT habitable. seller wants $20000 cash in a month. made him offer for full $20000 - no earnest money - borrowed $20500 against my retirement fund - could have used existing credit cards but my fixed interest cost on loan is 10% - immediatley upon closing put exact house WITH NO REPAIRS MADE AT ALL back in paper for $26750 with special financing - phone rings off the wall (and is still ringing i might add) - we sell for $3000 down and 1 year balloon at 10% interest rate - we keep ALL of the down payment and ALL of the payments through the year (less $200-300 - haven’t figured exact amount yet) - we re-fund retirement account when the balloon comes due - if buyer defaults will do the exact thing again and again and again
Re: successful sheets buy - sell - Posted by Matt G. (Salem, OR)
Posted by Matt G. (Salem, OR) on March 23, 2001 at 02:31:22:
That is an excellent deal Terry, I wish I had a retirement fund I could dip into like that. Congratulations on the deal
Matt G