suggestions......1st ( potential )creative re deal - Posted by Deano

Posted by JohnBoy on May 27, 2000 at 24:51:42:

Is the $99k the seller is willing to take after the realtor is out of the picture or is this with the realtor involved and needing the $4k to pay off the realtor commission?

Since the seller isn’t looking for much out of the deal except to just get out from under the payments, a couple of options to pursue are doing the deal “Subject To” or doing a Lease Option.

Instead of renting for the $950, L/O it for $1200 or sell on a wrap for full market value at a higher interest rate. You collect a down payment and create a nice monthly cashflow from the spread.

If you’re planning on doing something with this after the listing expires then make sure you read the listing agreement. Some agreements may require a commission to be paid within x number of days after the listing expires. Also check to see if the listing pertains to any lease option agreements. That would be one way around the issue.

suggestions…1st ( potential )creative re deal - Posted by Deano

Posted by Deano on May 25, 2000 at 19:49:07:

I have done many straight cash deals, in my short RE career.I am a full time investor,but suddenly feel the need to diversify, and have the ability to be creative when the need arises.
Thanks to my good friend Lewis, who told me about this site,I have felt blessed to be able to log on, and see intelligent discussions with regards to all the different ways to purchase and sell real estate.


FMV $118,000 to $120,000

#1 mortage…$85,000

#2 mortage…$20,000

(rent would only bring $950.00/mo)

other facts: 1) motivated seller
2) making 2 house payments for 5 monthes
3) realtors listing ends in 30 days
4) realtor has not shown house in 3 weeks
5) house needs approx. $1500.00 to get ready

As of May 25th the seller is ready to do a quick closing and sell for $99,000.
Since I already have 5 deals that I just recently paid cash for, what are some alternatives to an all cash deal.
I realize that this is probably void of some of the essential ingredients in being able to give sound advice,but if you can take a crack at it, I would certainly appreciate it.

Thank-you for your input,