Help - Creative Financing Opportunity
I have come across a vacant brand new house in a new subdivision. The owner bought the house, but did not move in it because of a job situation. He is living across town. He is trying to sell the house as a fsbo. He is also trying to rent it. I am trying to see if there is a way to make this a lease option opportunity. The house is listed for 189,900k. Homes being built in that s/d are going for around the same amount. Does this look like a deal that I can present to the owner as a lease purchase. Any help would be great.
You can get a lease/option on anything but you aren't going to make money unless you can structure in a way that you can.
Find out what his mortgage pmt is. If you can cash flow and the area will appreciate in a few years then you have a (lean) deal. Take it subject to or do a sandwich L/O.
Thank you. That is good information. Lassitermarketing, what do you mean by a sandwich l/o. Is that where I l/o from the owner then l/o to a tennat buyer?
Yes that what that is. Myfrogger looks like I have someone close to my home town. I'm from Mason City, Iowa.