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Updated almost 5 years ago on . Most recent reply

User Stats

11
Posts
1
Votes
Junior Abraham
  • Investor
  • Houston TX
1
Votes |
11
Posts

Redemption period deal

Junior Abraham
  • Investor
  • Houston TX
Posted

I have found a great multi family deal for $500000, one problem i am facing is that the owner of the house has a two year redemption period on the title till i can put a mortgage on iT, so for the next 9 months until that period is up, the only way i can aquire the property is through owner financing.the issue is his lender is charging him 10% interest, so i would be stuck with the 10% interest for the next 10 months. Even though it’s a great deal, should i walk away or do i have options?  

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