All Forum Posts by: Jennifer Anderson

Hello friends,

Like I said, I have an opportunity. It could be beneficial or a total nightmare. I made a similar post with great feedback. So great it made me realize I should rethink the entire strategy.

I was introduced to a couple, both in semi poor health. They have a limited income and do not want a loan where they need to make any payments. They own a home outright worth approximately 400k

They want cash to pursue some alternative medical treatments. The wife wants to live in the home until she passes. Her health is poor but not terminal. That is the sellers bottom line-100k cash and to stay until she dies.

They don't want a reverse or a HELOC because they can't afford the payments and don't want to do the required paperwork. They want cash and they want it asap.

What would you do?

This is such a valuable resource and thank you everyone who is willing to share your knowledge and experience.

Thank you

@Bill Brandt

Thank you everyone who has responded. I’m new to this and so appreciate everyone’s input. This is great advice and helps immensely.

So a leaseback that will hold the monthly payments plus a large deposit in escrow, along with insurance, etc., is probably the safest way to go about this situation?

Hello and thank you for any advice. Here is the situation-

I found a house I can purchase well below market. The owner would like to have six months after the purchase before vacating and will pay me the six months of loan payments from the sale proceeds.

The house is assessed at 400k. I am buying for 225k. In a great neighborhood.

I’d appreciate and value your input. Thank you for reading!

Hello All,

I have a situation. Not sure how to approach this and any advice/suggestions would be appreciated.

I have a friend who asked me about a reverse mortgage. He is 55, his wife is 67 and disabled. She owns their home free and clear. They are both in poor/bad health and need a lump sum to pursue some experimental treatments.

He is anxious to get this money. Too anxious to wait for a traditional reverse mortgage, HELOC, etc. I don't think their income can afford much more than the monthly bills, definitely not a large loan payment.

They are looking to get $70-100,000. The house is in good repair but a basic small 2br in a desirable neighborhood, valued at $420,000

I'll just get to the point-is there any way can I make money on this and help them out at the same time? I do have an LLC and a contact for hard money. I'd be open to any and all traditional or creative ideas.

Thank you in advance for your feedback!

Is there any kind of financing available for property in tax foreclosure auction?

Hello Everyone,

Is there any financing available for tax foreclosure properties? Looking to finance 120k with 60k down

Hello Everyone,

I won the bid at the county tax foreclosure auction in WA state. The numbers are solid, the house is solid. There are a couple of old DSHS liens that will drop off when the deed is issued to me. No right of redemption unless a listed devisee or heir was a) incapacitated or b) a minor. Neither of those apply because the heir is deceased.

I have an attorney advising me through this process.

Now that there’s some context here is my question-will this scare hard money lenders? I can pay cash for the property if I put up every dollar to my name.

I sent the title report and I’m waiting to hear back from the lender now.

Just preparing a plan b…am I crazy thinking I can borrow on this?

Thank you for reading and sorry of this is a head slapping moment for the more experienced.

Greetings BP community!

Thank you for your time, I know it’s valuable.

What can I bring into an owner financed deal without cutting my own throat?

I’d like to approach my landlord about buying the property. The property is very desirable and will be commercially developed eventually. He’s asking just over $1M, in the range of market value for the location. A large nation wide builder has two new developments on either side of the property and would love to finish off the area. I have $100,00 and I love my house. It will surely be torn down if sold.

What can I bring to this offer that will be beneficial?

Offer the $100,000 down and a percentage of the profit in 5 years but pay taxes and maintain the property?

Get it under contract and try to develop it myself?

I know I need to bring something very beneficial to the table for him to entertain the possibility of carrying a contract.

Who should I approach with these questions?

Thank you,

Jennifer