I need someone to buy then rent it to me for 12-24 mo. Then sell it back to me (at a profit of course).
2007-03-07 03:35:53 · 10 answers · asked by mortgage_loan_98 1 in Business & Finance ➔ Renting & Real Estate
Call a realtor. If you're in California, e-mail me. I'm a broker with investors that do rent-backs.
2007-03-07 03:45:20 · answer #1 · answered by irish_giant 4 · 0⤊ 0⤋
I have an investor friend that works with these types of cases.
His deal is this, he will sign the contract to buy the house for what is owed. He will then rent it to the client for a year or two. if the client wants to buy it back then they pay his costs to acquire plus 10-15k profit to him and can have it back.
you can find many of these types of investors as they will place ads in the newspaper showing they buy houses, offer quick closings etc..
Make sure you sell to an investor that will pay in cash since you need to sell this out from under your lender before it hits foreclosure. Also make sure the sales contract has the rent back provision in it so that he does not buy it and then "change his mind"
2007-03-07 04:01:01 · answer #2 · answered by Daniel N 2 · 0⤊ 0⤋
I am and investor and do many properties like that. There are many factors that have to be considered before the transaction can take place. The biggest factor is going to be the amnount of equity in your home. If you are serious go ahead and shoot me an email or im and I will be happy to talk to you about it. Again this is somthing that is done on a daliy basis in a very professional way. Let me know and we can get started!!
2007-03-07 05:18:26 · answer #3 · answered by SoCaLending 1 · 0⤊ 0⤋
Just remember, the worse thing that you can do for your personal finances and credit is to let your home forclose. If I were you, I would sell the home for the amount you owe on the loan (slightly higher to cover all selling costs), and rent until you can get back on your feet. Unfortunately, not alot of people will be willing to rent to you if you have already shown that you can't make your home payments. Whatever you do, just don't let the bank forclose on you. And, if you can keep your credit up, you will be able to purchase a better home, once you can afford it.
2007-03-07 03:50:31 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Good luck with that. Sounds like a pretty good deal for you but not so good for the investor. You probably should just try to sell it outright. You'd have an easier time finding someone to purchase it.
2007-03-07 03:43:21 · answer #5 · answered by Faye H 6 · 0⤊ 0⤋
Simply fill out the free evaluation form at the source website. A hardmoney lender will contact you within 24 hours. Good luck.
2007-03-08 02:22:08 · answer #6 · answered by CALIFORNIA GOLD 3 · 0⤊ 0⤋
http://www.realtytrac.com/
You can find a lot of helpful info from this site. As well as the clients who's intherest in buy the house in forclosure. Good luck!
2007-03-07 03:46:27 · answer #7 · answered by Cindy 1 · 0⤊ 0⤋
Do what Fireball says but do it quickly you should also approach the lender and try to get a forebearance agreement on your attempt to keep the home. In addition go to this site
National Home Recovery Program for foreclosures http://www.nhrp.com/
Buena Suerte
2007-03-07 03:46:20 · answer #8 · answered by newmexicorealestateforms 6 · 0⤊ 0⤋
consult a realtor for advice
2007-03-07 03:43:45 · answer #9 · answered by Anonymous · 0⤊ 0⤋
ADVERTISE!
2007-03-07 03:45:59 · answer #10 · answered by charlie at the lake 6 · 0⤊ 0⤋