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Updated almost 10 years ago on . Most recent reply

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Cameron White
  • Involved In Real Estate
  • Lehi, UT
1
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12
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Creative financing closing??

Cameron White
  • Involved In Real Estate
  • Lehi, UT
Posted

I have been considering investing in real estate for quite some time now.  I do not have enough money to purchase a home outright and in a couple of conversations I have had, I have lost leads due to my inability to close quickly.  I have looked into the creative financing department and have found that it could be a great option for me... if I knew how to close the dang thing.

My thinking is that if I, for example, wanted to purchase a home and got a seller to carry a loan - I would need to pay this loan off and take title before I OWNED the home, in which case I could sell the home to another buyer.  Since I never really have had the money to own the home, and therefore never really own the home... How do I actually sell without taking title?  Does this require me to do a double closing and sell before I actually own the home?

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Brian Gibbons#5 Guru, Book, & Course Reviews Contributor
  • Investor
  • Sherman Oaks, CA
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Brian Gibbons#5 Guru, Book, & Course Reviews Contributor
  • Investor
  • Sherman Oaks, CA
Replied

If you're limited on funds

Enter your LLC into a lease with an option with the seller,

market for a tenant buyer, 

assign your paperwork to the buyer for 3% fee

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