Land Trusts Or Assumable Mortgage?
Has anyone invested or purchased a home via land trusts? I am a real novice when it comes to real estate investing. I have come across a home where you can take over the payments for a small amount of money. The home has equity built in it and the mortgage is low. The fmv is high which equates to profit on my behalf. I can either sell it or keep it for a positive cash flow. this deal sounds to good, I am wondering if there is a catch to this. possibly the original owner is in pre forclosure or has undisclosed liens on the property. Any advice would be greatly appreciated!!!
Find a specific piece of property and research the deal and bring it to the attention of this forum.
A newbie may not be able to distinguish the difference between a scam and a good opportunity.
But those of us with hundreds of successful deals... and more than a few losers.... will respond, ask questions and freely give advice.
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