80/20 With L/O How To Do
Hi,
how do you normally structure your NO DOWN payment purchases with L/Os?
Does your bank/lender provide a full 100% loan (to cover the 1st @ 80% of value) with the seller carrying back the 20%?
Do you then lease the property out for more than what you pay on the 1st and the 2nd mortgages combined? How much more?
What happens to the DEED of Trust and how do you structure this at the TITLE Co.?
Thanks! 
[ Edited by roiclicks on Date 08/09/2003 ]
on a lease purchase your generally not dealing with banks and lenders...you're dealing with the owner of the property. there is no 80/20 with no money down! no money down owner/seller carries the entire l/p option for your agreed upon price and monthly amount. If you are asking for monthly rent credits toward your down include that in contract....now you have the right to sub-lease provided you used the proper contract...you sell at a higher price and monthly rent...you can give monlthy rent credit to be applied to additional down...this should give you the idea...need more help contact me