All Forum Posts by: Evan L Woods

I am moving to a new state and want to house hack.  I will be starting a new job and only have enough to put down 5% for a normal loan.  Can anyone tell me if my only two options are seller financing or a lease with an option to buy?   

Hey guys, I'm looking for creative ways to structure a deal.  Here's the situation, I only have $15,000 in cash but have a chance to purchase my first property from a friend that wants to move.  It is a side by side duplex with 2/1's, it has an unfinished basement that can have a bedroom and bathroom added to each side.  The property is owned free of any liens.  My idea is to present them with two options: the first would be to form a partnership with the seller with which to purchase and rehab the property.  If we did seller financing and I used the $15,000 for down payment how could we pay for the rehab?  The second option would be just to purchase it outright and house hack, which would leave me with no money to rehab.