Owner Finance contract

[Claudia Moran]

Hello BP community,

I have a property I can buy from a friend in Hayward, house is condemned but lot is huge and it is near the UCEast Bay - so I want to build a rental income property for students - I have drawings and have spoken to city - so my question is - if my friend OF the property to me, gives full tittle, he stays with a lien, can I take out a loan against the property to fiancé the build? He is a childhood friend and is willing to give me great terms until final product is done - also should we do the payments thru a tittle company? thank you in advance for your valuable advise!

Best,

-Claudia