Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Texas Real Estate Q&A Discussion Forum
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 5 years ago,

User Stats

17
Posts
1
Votes
Rolando Frias
  • dallas, tx
1
Votes |
17
Posts

Advice on funding the pay off of a lease to own property

Rolando Frias
  • dallas, tx
Posted

I need advice on how to acquire funding to pay off a lease to own property. 

I am in the process of seeking out different options on how to get funding to pay the owner off and get the deed into my name.I owe the owner roughly 25K. Unfortunately I don't have that amount on hand in savings. The owner isn't troublesome, I just am ready to do other things with the property to help start my wife's and I venture into real estate investing. 

I contacted our lender on our current home but she stated that it would cost me a fortune for her to fund this amount as a conventional loan. I really felt she wasn't interested in working on it due to it being a small amount for a old home.

We do own another property that is free and clear. We planned to use that property early next year to help fund our first actual investment property. We feel we are finally at a point that we can commit to working on increasing our property porfolio for our future retirement.

Now my dilemma is that I have no clue what funding options I should seek out to pay this lease to own contract off and that would not put a road block in our plans of acquiring more properties next year?

I need advice before I make a wrong turn and put our plans on the sideline. 

Loading replies...