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Updated almost 8 years ago,
Buying single family home from family friend for first deal
Hi,
My name is Jalan (Jay-Len) and i'm a 22 year old in the RDU area. I am a complete rookie in the real estate investing field and I would love some advice for an opportunity i have coming up. I've been looking to purchase my first property for a little under a year now and I honestly don't have much saved. I recently received my NC Real estate license and a family friend of mine came to me about possibly listing the homes of her parents. I was hoping to find away to purchase both single family homes and turn them into rentals but i'm wary about going to a bank for a loan. Would it be a good idea to ask for owner financing or maybe even loan assumption? If not, what do you guys suggest I do to get at least one of the properties in my portfolio? Thanks!