I've visited this site before, but never posted.

Owner gave me a WD and I started making the payments of $368.41 on the 1st mortgage & $130.88 on the 2nd mortgage.I sold the property for $89,900 on contract for Deed in 60 days $3,500 down & $604.12 @7 1/2% for 30 years My Return: Paid -$998.58 Down payment +$3,500 = $2,501.42 (Half to owner) Payment =$499.29 * Contract Payment =$604.12 * Positive cash flow $104.83 (Half to owner) In my pocket $252.13 up front & $52.42 per month x30 year = $18,869Why Would A Seller Sell To Me - The seller was motivated I found his pain and provide him the best solution I actually increase his credit score I gave him $1,250 cash in pocket I make all his payments I send him a check once a year for $629You still can profit on deals that have no equity by knowing what the average rents are in the area and if they exceed the mortgage payment, you can great a positive cash flow.I did this deal on a property that had a retail value of 497k in California with an appraised value of 562k and the monthly payment was $3,426.31 and she owed 510k and the average rent's in the area pulled $4,750 and it cost me $10, 800 to bring her current and I gave her another $5,000 for the deed. $10,800 to bring current $5,000 for the deed $5,700 for carpet and paint $750 for other costTotal out of pocket $22,250 to take control of a 500k plus property based on appraised valueI did a lease option for 5 years at a lease option purchase price for $549,000 with 25k down and $4,500 a month with 25k towards the purchase and $500 a month credit towards the purchase of the home.

In my area of Southern CA, realtors only get 3% of the price, as the competitive nature of the business has driven down the commission structure.

I work in Orange County, CA and we are now seeing builders offering up to 10% just for the buyers agent to bring a buyer!

I have tried to explain that we get equity in the house as the mortgage gets paid and we both benefit when the house is sold; also, my sister comes into town and stays here for rather lengthy visits whenever she wants so its not like she's not benefiting from her investment, too.

Just thought I'd introduce myself. I just joined the forum. I have a ton of real estate experience and am looking to help anyone in search of more real estate acquisition or lending money.

I own American Fidelity M...

I have clients now in California, New Mexico, and New York.

for California.

Real Estate in CA is better than stock market or CD today.

For more information visit http://www.geocities.com/[email protected]/Sellers.html .