Not my ideal situation.

Not my ideal situation.

She mentioned a lease to own or rent to own situation...

I My friend was in the same situation as you 1 year ago I told her to get a second job and start working on her credit. 1 year later she has over 40k saved and credit is up over 700 now.

I hope to be able to help people thru the process and get them out of situations that could get worse and move them in a more positive direction.

I recently had a buyer interested in a home that had a very similar situation, but tied to the Solar system that was installed on the subject property.

However, I realized that my situation is quite unique.

It kind of does to me, considering my current financial situation.

Ashley - I don't know if this is a good deal or not - but I did respond to that listing - it looks bad and empty - There could be lots of equity or lots of stress - I like in and out in a short period of time.In my opinion every property offer is a "deal" - Every property offered is or could be a good deal -The only thing that make a property a bad deal is PRICEEvery property will sell if the price is rightTime on the market and price (reduction) are close cousins -Price softens as time moves on and motivation and reality is realizedEverything will sell at a price -The first thing I'd want to do is get the history of the property - how long on the market, why is it vacant - what's the reason for selling -What is the current mortgage balance - is it current or in the arrears - What other liens or obligations are on the propertyHow many owners - decision makersWhat is the commission - will agent splitAre there open to a reasonable and creative offerDo they want any profit or to just get it out of their nameCan down payment be paid over timeHow much paper with they accept - delayed payments - principal mortgageAshley - since you exposed this property to all of us - You should see if you can get the answers to those questions above - and play the game - WHAT WOULD I OFFER?

There are so many different factors at play...your goals, your next deal, the situation at hand of your LTV, credit score, loan amount, etc...that affect the available terms and whether it's best to go 15yr or 30yr.It's always best to work with an investor-friendly lender that has your interests in mind, and can work with you to strategize a few moves ahead, like chess.