OfflineNeed some options or directions that could help me with my first possible deal. My neighbor is upside down on their mortgage. They just want me to pickup the monthly payments and have NO RESPONSIBLITIY to the property. I have bad credit. The mortgage is assumable. I really want the property because its literally next door to me to maintain etc... What options do I have with acquiring this property with bad credit, no money and dont want to deal with conventional financial institutions.
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can you post details of the property, i.e. what's the FMV of the property, how much is the mortgage, how much are the payments, how much are the taxes, does it need any repairs?
How much could you rent the proerty for? Maybe you can do a sandwich lease option?
Valerie
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