All Forum Posts by: Sanden Leavers

Hi! I was wondering if there is any investors out there that could give their know how on condo investing. Are there any books or anything you could recommend? My dad was looking into investing in condos and he is not really sure on how to go about it.

@Todd Rasmussen I figured that this way it could take the finical burden off them and help me buy the property cheap. However, if I bought it and leased it back to them it wouldn't be as appealing to the owners. My thought was to buy them out through owner finance then "lease" it back to them but instead of me give them money then them give it directly back that I would just let them have it, then when they move out I would prorate the amount the amount that I owe them, take the loan out for that amount instead, so in essence it would give the property to me cheaper than what I would have gotten it for if I had taken out a loan and done it the traditional way. 

I do not know much about investing in Real Estate at all. What is an option contract? 

Hi guys, I am a new investor trying to create an owner financed deal. However, I do not know much about owner financing and how it works. The deal I would like to structure is a $60,000 town house and the people that own it have a loan out to pay for it. I want to go in give them a down payment and then let them I've there rent free until they decide to move, then pro rate the amount of time lived there and then pay them whats left afterward. Is this plausible and does anyone know how it would work with their existing loan? Would I have to take over their original loan?