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new loan, the buyer gives the seller a note for the balance of the seller's equity.
8. Find an investor - There are many people who have money but no time. Their current profession keeps them too busy. Work out a deal where they put up the money and you split the profits when you sell.
9. Lease with option to purchase
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depressed but have some redeeming quality
such as proximity to the beach or waterfront, a thriving
downtown or some other desireable place. Many depressed
neighborhoods need a pioneer. Someone to come into the
neighborhood, pay retail, either tear down and build or rehab
the old homes. This kind of activity will eventually attract
other investors or home owners with money. Once the money starts
rolling
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the jackpot, you'll need to finance the purchase.
Here is a tip! Have your financing in place BEFORE looking for a
property.
Talk to mortgage lenders, banks, and lending institutions.
Again, the internet can make this process easier. Here is a
lender I recommended http://www.heritagemortgagesolution.com.
Have discussions with your broker and let them know what you
want to invest and most importantly ask questions. They
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