Creative Ways To Buying Two Properties At Once??
Hello all,
There is an investor who is retiring and wants to get rid of her two investment properties. She is willing to hold the paper on both. Here are the numbers:
House 1
As is value: $85k
AVR-$95K
she will accept $55k
House 2
As is value: $70k
ARV:$85K
she will accept: $50k
We have been preapproved with Country Wide already. They will give us 95% ltv on $250k. I would like to purchase both of these properties and was wondering if anyone could come up with creative ways for us to get them both since she is willing to hold the paper on both with a downpayment. Thanks, Tim
[ Edited by HasSpoken on Date 05/24/2004 ][ Edited by HasSpoken on Date 05/24/2004 ]
Spoken,
Simply put we believe you have answered your own questions. If the seller will carry paper, with favorable repayment terms you are being creative.
Create your exit strategy and join a local REI group to gather additional feedback to your detailed questions.
Good luck,
Eric & Rosa
[addsig]
Thanks Eric and Rosa,
Yeah, after I finished typying it out I realized I had answered my own question, but figured this thread could help someone else so I left it. Thanks your input, I truly appreciate it. Tim