It makes for a fast cash transaction with no fees.

People will tell you it doesn't effect your credit score if you are shopping lenders for one RE transaction, but it will have a negative effect if you do it that way.

No current yearly leases in effect with 2 tenants.ASKING PRICE: $290KRENT 1/1: $750RENT STUDIO: $650RENT 2/1 (we will be occupying for now) $1300Willing to pay $280K.

That said, I never followed any guru scheme (I'm aware of them, but I have always designed my own transactions) nor have I ever attended any RE seminar on "investing" or any boot camp.

It had to be some idiot guru who initially suggest this, it's a sham transaction.

Pretty much the same here with the CFBP, politicians tried to block it at every turn and not fund it, I'd say the financial industry is accepting the bitter pill and in return they get some protections and new benefits.There are billions of dollars in seller financed transactions, much of it now must go through servicers and at servicing rates that only a bandit would charge.

I sent a welcome letter to both and let them know about the change of ownership and that the lease they signed with the previous owner was still under effect.

If there's more cost effective options I'd love it if you could point me in the right direction.

My former brother-in-law is an attorney who closes about half of the transactions in Lauderdale County and does quite a bit of business in Tipton also so I could check with him if you need further assistance.

In the majority of our loans, when you factor 75% of as-is value for purchase PLUS 75% of the rehab costs, tge amount of money you are effectively able to get is 80-90% of the total of what you will need.