Steve Straub, CMPS with Straub Consulting in Portland, OR explores the difference between a lease option and rent from an investment property. Steve demonstrates how a lease option can be a powerful strategy to more effectively manage cash flow with a rental property. This is a great win-win strategy for both the owner and the renter because there are a lot of people in the Portland Metro Area who want to buy a home but cannot qualify for various reasons through the traditional mortgage channels. There are over 30 videos at www.straubconsulting.com that educate and share perspectives on ways to build wealth through investing in real estate using long-term hold strategies.
I am not in a position to get another mortgage, nor do I have 40-60k lying around to take advantage of these foreclosures. Is there a way to find a capitalist, or take out another mortgage on these "cash only REO offer foreclosures?" I am thinking their must be a loophole.
This is for a second home to turn into a rental. I allready am getting a first one with my 20 percent down, and decently excellent (730 score) credit
I am currently renting and interested in buying a home that is in foreclosure and being auctioned off. Are there any government/state websites that are legit that will allow me to see the houses available in my state? Should I use a realtor?
Is it a bad or good time to try and get a mortgage?
We have been asked by a buyer to carry 10% financing on our home. The sales price is 500 We owe ,900 and our realtor fee will be 00.
How much do WE as the seller, bring to the table to satisfy our mortgage and realtor fee. Does this mean we will pay them 50 and the difference in our loan plus realtor fees? I thought I understood but it is too late n the evening to call my realtor. Thanks!
any i was wonder if its even possible for him to buy a foreclosure house it kinda peaked my curiosity
and i heard that its possible if he has like our parents to co sign and the house i s only 20,000and the mortgage was 1 actually inm thinking of geting it lol
two years ago a friend and I bought and moved into a house together with a tic agreement, and then we created a lease option agreement between us that I would buy his share of the house after two years. This was a contract between him and I and it wasn’t notarized. I gave him a non-refundable down-payment and I pay the mortgage. Now as am am about to get the financing to buy his share out-right. Then I would like to sell the house. Will I have to pay capitol gains tax on profits from my partner share that he sold to me, considering I only just outright bought the house, even though I have lived there for two years and agreed to buy it two years ago and payed him some then and payed the mortgage since?
I would like to buy a foreclosed property from auction. I would need a mortgage to pay for the property. If I go through the bank how do I do this? I also do not have the 10% down that the county requires on auction day.
I am currently renting and a home across the street has recently become available for sale by owner. I have recently applied for a mortgage but my approval requires me to complete several items that may take a few months.I approached the owner with the possibility of a lease/option agreement so I may move into the home and leave the rental property. The owner mentioned today an option "fee" of ,500 and monthly rent of ,500 with a final purchase price of 3,900. Does the option fee typically get applied to the purchase price when I complete the sale? Should I request a percentage of my rent to be applied to the final purchase price as well? I haven’t received any of the paperwork yet but just wanted some ideas. I am new to this.