Real Estate Investing Forums

Real Estate Investing => General Real Estate Investing => Topic started by: mike on April 25, 2003, 11:54:43 am

Title: owner financing a lease optioned property
Post by: mike on April 25, 2003, 11:54:43 am
Can you legally do the following?  Investor leases a property from desparate seller for $1k/month with a 3 year option to buy for $100k.  Investor then finds a buyer who buys the property with $10k down and a $120k loan with a 2 year balloon.
Title: Legal ?
Post by: tedjr on April 25, 2003, 07:20:29 pm
You can sell your option or give the new person an option but you can not sell the property until you own it. They may give you any amount of money to pay for the option or as a downpayment on the future purchase.

Sounds like a super deal

Thank you,

Ted P. Stokely Jr
11505 Sw Oaks
Austin, Texas  78737

512-301-9171 home
512-587-6177 mobile