Where can I lead my buyers for a loan? - Posted by Lance

Posted by lance on January 31, 2000 at 17:30:07:

Thanks Bob,

The advice sounds good. I will consider the input.

Where can I lead my buyers for a loan? - Posted by Lance

Posted by Lance on January 30, 2000 at 15:26:47:

I have invested in a low income neigborhood. And that’s ok because i know i should make a 25,000 profit if i get my asking price. However, I have a problem. I have had three buyers intrested in the house and, most of the time my agent prequaiflys them and useually he blows them off for a number of reasons. Here are some… Bad credit, slow credit, no income, not enough income. I now that most real estate agents go by the book, and are not aware of creative funding, or goverment loans. Is there a goverment loan or a other sorce of funding that i am not aware of that i can lead them to? What if i had a buyer that only makes 13,000 to 15,000 a year but has ok credit can i make this deal happen?

Re: Where can I lead my buyers for a loan? - Posted by Bob Taylor

Posted by Bob Taylor on January 31, 2000 at 08:34:17:

What you might want to consider is, list the houses F S B O, owner financing. Find yourself a good Mtg. Broker that has a lot of different investors with a lot of different lending parameters. Look in your local throw away papers (Thrifty Nickel, Trader, etc.) for their ads. They can help you get funding when a bank will not, plus, if you do it this way, you don’t pay a sales comm.
Now, if you are too busy to do it yourself, tell your agent to look up the brokers. The agent will probably tell you the brokers are a bunch of crooks. Don’t hear a word of it. They are regulated just like banks, but, with less stringent lending parameters. It works for me.

Good luck and good selling.

Bob Taylor…Alabama