Group:
I'm a novice when it comes to real estate investing.
I've owned a few small single family residences and sold them.
Over the last few months I've been actively looking for opportunities to get
back into the real estate game.
I've attended a couple "guru" trainings.
One strategy seems to say that there are some sellers (FSBO) who
are under water with their mortgage/needing repairs and will agree to a lease-purchase
without me ever taking over their mortgage.
The strategy then says for me to turn around and find a tenant
who will sign a land contract with me, they will make the repairs and
pay a deposit upfront and pay a little more monthly rent than what I'm paying on the original lease-purchase
agreement.
In theory it sounds good if there are sellers out there like this.
What seller would enter into a lease-purchase without me/buyer
paying an upfront deposit?
Thoughts and comments appreciated.
