Use the Sell Land Contract strategy and get the home sold.
Real estate investors and home owners can buy on a land contract, then sell on land contract!
This means offering the terms that home buyers or investors need, when the banks and mortgage companies are turning home buyers away.
Investors: Buy Land Contract - Sell Land Contract
Do what Steve did, his testimonial below.
You can borrow money from a private money lender to buy a fixer upper, including the fix up money, on a land contract. The special condition is a 5 to 7 year loan period and a limited due on sale clause.
A private investor can simply be a home owner willing to sell their house to you on a land contract!
Real estate investors are needed to buy vacant houses, remodel those houses, and find new buyers for them.
The sell land contract strategy works well when a new home buyer doesn't have the cash on hand needed to complete the repairs required on a vacant house.
In some cases the new buyer cannot qualify for bank financing with the strict guidelines to get a new mortgage, especially on a home needing repair.
By: Steve S.
I just wanted to drop you a line to Thank You, and tell how helpful your Land Contract E-Book was for me.
Last Tuesday I closed on my first For Sale by Owner, Land Contract sale.
I followed your outline and guide, then handed it all over to the Title company to prepare. It went very smoothly and I was able to both understand all the aspects and benefits and explain them to my buyer as well.
I got my full asking price with 10% down AND 9% interest and without having to negotiate or help them with their closing costs, or FHA fees.
My buyer is happy, because they are now Owners without having to qualify for a Bank Mortgage or go through all the hoops of a Mortgage broker.
At the same time, I was able to convert my high interest, short term, interest only, private money loan, into a 7% long term, interest & principal loan
With your help, I was able to convert a $600 negative cash flow into a $200 positive cash flow and eliminate all my upkeep and headache of that property.
Land Contract is definitely the way to go right now.
My buyer was in foreclosure and headed for a bankruptcy but had enough money for a down payment and has a good job history. It is a win / win for both parties.
Thanks again Joe. Maybe I can buy you lunch sometime. I have a few more recent success stories that I would be happy share from the information you provide on this site.
I can officially say "I'm flipping houses", thanks for the help.
The sell land contract strategy is just what I needed to keep me in business.
The Land Contract Main Page
Top of this page: Sell Land Contract
See what's new on Ask The Rehabber
Back to the Home Page Ask-The-Rehabber.com
Today's News in the Home Remodeling News and Your Commentary
Today's News in the Real Estate Investing News and Your Commentary
Your questions are important to me on Ask The Rehabber.com.
Ask Your question here (Plus, you can add your answer and expertise to our Visitor's questions) Rehabber Answers to Questions.