Hello everyone,
I have been very interested in investing in real estate and have finally begun to look for deals. My girlfriends family have 2 paid off apartments that they are renting out and they have been wanting to sell. My girlfriend and I want to buy them, rehab, then rent for a higher price since they are renting it out for a low price. They are also willing to sell them to us for 80% market value, which is what we are looking for. The only problem is that we can't use a traditional mortgage loan because we don't have jobs but we do have money saved. I was thinking of having them do a HELOC, me and my girl friend can do the payments for the heloc but would we be able to do an owner financing after to take over title of the property? I have been looking for CPA'S for real estate investors in San Diego, CA to get advice on the best way to have a WIN-WIN scenario for both of us. Would anyone have a strategy for us or give me some advice on how to handle this?
Thank you for your time
