Posted by Ben on November 03, 2009 at 14:40:26:
In Reply to: What's REALLY working, now? posted by Lewis on November 03, 2009 at 13:47:05:
Good question. Short sales were a thing of beauty pre-2005. Now it is work.
Buying with owner finance is good in any market but it has legs in this economy. Of course it all depends on the deal, the location and so forth. My only concern for the wrap is it is essentially rto. As long as you can lease with option and assign those rights to a third party, should be kosher. Might want to check state laws before going too far.
In any event it is a risky busisness as the original owner and/or third party may have litiguous circumstances that can wreck the deal. What is you LO and the original owner files for BK protection and you have a assignee on the back end?
Many other possibilities for this scenario.