OfflineI currently have three deals I am working on.
The first one is $35,000 and I had asked if anyone with credit wanted to partner on that deal,
well I found a hml to fund the deal and the seller has agreed to take a note on the 20% down I needed. We are getting it worked out right now.
The second deal I put in an offer for seller carry-back financing. This can give the seller the full price he wants and a nice property I want.
The third deal I am working on I put in an offer for seller financing @ 6% interest, and the seller countered with 8% interest, 5 yr term payable at 450 a month with 1400 back taxes and 600 realtor fees paid upfront. So now I just need to get the 2k and the deal is mine.
I will keep you posted on how these go.
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Most posts about deals are saying I have 3 deals to go look at, sounds like you have 3 underway and have actually cracked the nut as they say. Good job! Let me know if you remember to tell me how all this works out, sounds like an awesome place to be! I am assuiming you are still in the early stages of REI, I could be wrong. I have done 3 myself and am onto 4 now, with 5 and 6 lined up behind them. Those circumstances surrounding all 3 dont sound to bad either, sounds like a good direction. Proud of you and good luck!
FOMAC
since I read Dean's book PFRERN, owner financing of coarse, and one before I decided to make my start in rei. The house I am currently living in I got on lease option, no money down except our first months rent, and we got to move in two weeks early for free just because I said I would clean the place up.