Hi! I am in Washington state and am brand new at this and wondering how to go about this. Maybe someone can help. Hope so! Anyway here it is: About a week ago I was on the last chapter of Deans latest book and planning to begin after I had read BOTH of his books. However, we were out hauling stuff for my brother in law when I looked up a hill I had always looked up and saw a for sale sign on a house and property I had admired for years. As it turned out the lady that had owned the house had passed away some time ago and had no heirs. That's right folks. Last of her family. The property is a 1 1/2 story with an awesome basement. 2 Bed 1 bath. There is two small bedroom size rooms and a closet upstairs and another bathroom in the basement. It is on 6 acres with a large Garage/Barn that can house 2 cars and 1 RV. The property is in the hands of a Personal Representative who, in turn, listed the property with a real estate company locally. It is to be sold in As Is condition. I got permission to have a contractor come in and estimate the cost of repairs which came to 11,000. The property is listed at 169,000 and the Rep is desperate to sell. It has been on the market for quite a while with no other offers. I checked with the county and they listed the property value at 122,615. Did I mention that there is a beautiful territorial view and a great view of the sound? No? Well there is! So, I decided to make my offer today. I have no money of my own and no way to get some so I offered 95,000 for a Lease Option for 1 yr w/access to the equity for repairs and we would pay the taxes and insurance plus a 500 dollar rent with 300 going toward the down payment at the end of the year. This way the property would get fixed, the taxes and ins. gets paid and they make a little money instead of losing it. It gives us time to get financing together to buy it. Now how do I do that without at least good credit? We just lost our home because I got a back injury at work and have been out of work for a while. Couldn't pay the mortgage. Help?
Who is Dean Graziosi?Dean Graziosi has been investing in real estate and teaching thousands how to do the same for over 20 years! Learn About Dean Graziosi!
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