3 Properties
Ok so about 3 and a half weeks ago give or take I ran across a deal for 3 rental houses on a college campus. The guy is wanting 250k for all three houses. As him and his father in law are running another business that just took off and have no time to deal with the properties, he just got back with me and asked me if I still was interested in the deal. Now at the time I was just thinking I could do a quick flip seeing that I have no money down or bad credit. How would i get him to possibly sell me the houses on a contract lease to buy option? Would this be a great step for me? What are some of the options I have? All help well appreciated..
-John
Some food for thought.
with the market the way it is, are you sure of the 245K value?
Are the mortgages assumable or is this a subject-to transaction as well?
What repairs are needed
What would it rent for and would that cover your monthly outlay?
Is she interested taking back more (e.g. all)?
Do you have a friend or family member that might like to co-invest with you?