Newbie Seeks Guidance
Greetings to everyone! This probably would be my first L/O?,I generally invest in rental properties,but i came across a property(5bd/2.5b used to be a 2 fam,converted to a single res.) being sold by a rehabber.After fixed price is 105k, property appraisal would go for 145-150k,area is not bad..
I know your advice for me probably basically is to read books on the topic,but this is kinda an urgent inquiry,have to decide to put property into contract or agent walks...soo forgive the question if may be too basic.
rehabber wants cash,also is open to seller carry back financg,and closng costs,(i dont hav good credit by d way)
question?
1) so do i purchase the property under my name or an LLC then find T/B,or should i purchase at all knowing L/O should be as much as possible "control without ownership"
2)how do i go about in structuring this deal if seller wants cash and does not want to give me deed or ,lease option property with the option to sub-lease?
again pardon if my question is soo basic, I promise to read more on the subject....thanks to my advisers
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