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Updated almost 6 years ago on . Most recent reply

Luke Harrison's profile image
Luke Harrison's profile image
Luke Harrison
  • Rental Property Investor
  • from Randolph, NY
  • Member since Mar 1, 2019
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User Stats

29
Posts
8
Votes
Luke Harrison's profile image
Luke Harrison's profile image
Luke Harrison
  • Rental Property Investor
  • from Randolph, NY
  • Member since Mar 1, 2019
Connect
Luke Harrison
  • Rental Property Investor
  • Randolph, NY
8
Votes |
29
Posts
General Real Estate Investing

Cash purchase, with private investor

Luke Harrison
  • Rental Property Investor
  • Randolph, NY
Posted

My fiancee and I looked at a duplex today in a up and coming neighborhood, with a lot of hospital development. We have a family member who would act as our private investor, and loan us 100% of the purchase price in return for a reasonable interest rate on the money he loans us.The asking price is 65k, we are going to offer 55k, and negotiate from there.

The question is, what is the best way to have him give us the money and us give it to the seller, and have the entire transaction be under our name? This is an MLS listing.

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