A Deal
I have a home in NC I am currently asking 82900. I have a lady who wants to purchase the property for 70000 which will get me out from under it. My question is would it be legal to let her bank have the deed for the 70000, and I give her a second mortgage on the house. The property is in NC. I have the potential to make more than asking price just to get her in the house. Any help would be greatly appreciated. Thanks
Sorry i forgot some pertinent information. She is willing to pay 12% on the second mortgage of 18,000. I hope this makes sense.
Yes, you can do that but, let your title company draw up the 2nd mortgage. Then after the deal closes you can sell the 2nd if you like.
I got into real estate at 20 when I bought my first house and started wroking for a builder. I worked for the builder for a year in SE Florida I saw so many people make so much money flipping new construction homes. I then got my real estate license and bought my first home preconstruction home. Now I am 24 and opening my own real estate company.
Real estate license sounds like a good idea... I gotta find out where something like that is being offered
Not sure where you are at but it usually takes 1-4 weeks to complete the class some states allow you to do it online. You pay a couple of fees and you are licensed. Then you will need to find a company that will train you I know here in FL anyways you get your license and are clueless on what to do. You will most likely have to join the Realtor board which can be expensive. Real Estate Agent can be a great career but it can be hard too it takes about 30 days from when you make a sale to get paid. Good Luck.
im not too interested in becoming and realtor. Im more interested in understanding it so i can make it my own and benefit to the max