Posted by Greg in Dallas on August 03, 2009 at 14:52:04:
In Reply to: How to do this deal? posted by Dmac on July 27, 2009 at 13:41:13:
To do this deal properly, you can buy it subject to or with owner financing where you make your payments directly to the bank and the seller has a performance mortgage in place so that if you don't make the payments they can foreclose to protect their credit rating and take the property back.
Just order a subject to training course or get a mentor on the subject and then buy the house subject to.
Most title companies will know how to structure everything for you.
If you need further help, just give me a call 972-642-6600 or visit our home page
Best,
Greg
http://www.REITC.com
DFW's Best Local Investor Club