This is Great/ Pro's please help make deal work - Posted by tim t

Posted by David Krulac on February 25, 2002 at 19:29:31:

I might be tempted to assume the VA loan, if there is $21,000 equity, and keep it as a rental. you’d be buying it for nothing down! and in a growing area that equity would continue to grow and grow.

David Krulac

This is Great/ Pro’s please help make deal work - Posted by tim t

Posted by tim t on February 25, 2002 at 18:54:03:

This weekend I started advertising and as a result 5 people called me! That?s great for just two days! Two of the calls were not very motivated but three are a possibility. The one I need the most help with is a house that has a VA loan that the owner is currently 5 months behind on payments. The balance on the house is $107,000 it is a year and a half old and is in the same subdivision as my home. I had a realtor friend pull comps and as I suspected the fmv in the area for a house this size is $128,000. This guy wants to give me the deed and wants out with no cash. I was looking for lease option or option deals that?s what I studied for
I don?t know how to handle this deal (newbie) But I don?t want to let it go.

I want to sell this house immediately and capture the equity. Houses in this subdivision that have sold this year have all sold in less than 1 month. My realtor friend says this is a good deal, which I think to.

How should I handle this? I going to talk with him tomorrow to view the inside of the house.