All Forum Posts by: Zahrah McFadgen

Sorry for the late response Justin! No, the seller is still currently living in the home but will be out the beginning of August. I have it under contract to sublease it out to a tenant buyer. I'm looking for someone who wants to buy it on a lease purchase/rent to own arrangement.

Rent to Own!

No Banks Needed or Qualifying!

Available August 2017

Call 518-250-6864

Can anyone recommend an ethical equity lender in Upstate NY? I need funding for my properties but don't have $25k to put down to borrow. I'm a new investor so I need a lender that will base the loan on the property value rather than my credit or down payment. Please let me know if you've done business with a company like that. Thank you!

Hi BP. I'm thinking of possibly buying a 3 bd, 2 bath, SF home in Mechanichville, NY but I can only do it with terms (seller finance, subject 2, or lease option) but I need your advise. The home is an expired listing, located in a nice quite area. It's had a lot of upgrades done over the years but still needs a little rehab. The seller lowered the price 3 times already and would like to sell in 2-3 months tops and be done with the place. What would you do? Let me know if you need more info. Thanks!

Asking price: $115k (lowest seller will take is $85k)

Mortgage owed: $75k (current on payments/says home equity lien might have clause that prevent her from renting property out so lease options might be off the table)

Tax lien: $6500

Property: over 30 years old

"@Brandon McLean

Good point Brandon! Thanks for that insight. Is it just as difficult to work with an investor friendly agent if you find one? Freedom to come and go as I want and make quick decisions is very important to me. I don't know if I'd be giving that up if I get my license and become a realtor. That's the one thing that concerns me. 

"@Stan Taylor

Hi Stan. Welcome to BP! I'm a newbie facing the same challenges too but in addition to what Dave recommended, I'd also suggest reading the blogs on this topic. There's plenty of good blogs on this website that give helpful tips but another good resource to use is J. Scott's book "The Book on Estimating Rehab Cost...etc." He gives a great brake down on how he does it. You can order it on this site. Hope this helps. Good luck and best wishes to you!

Hello BP! I listened to a podcast that suggested using seller financing or subject to strategies to "purchase" properties and resell it as is. It didn't give a lot of details about how this works so I'm hoping someone can explain it to me if you used these strategies before. Thanks in advance! :)

 You're very welcome Venkatesh! :)

Congratulations Venkatesh! Good luck with your future endeavours.  

 Lol...thanks Tim!