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The other investor found the solution. A month later I rode by and saw that he had actually removed the living room wall and moved it in four feet. Higher up it angled back out to the roof line. Sure enough, there was a car parked in the space created below. I’m not sure what the engineering challenges or costs were for this, but I do know that he sold the home for more than twice what he paid. That’s a great example of creative real estate investing.
Getting help with financing through the seller. You can sometimes pay a downpayment of only 5% if the bank allows a loan of 90% and the seller is allowed to take back a second mortgage from you for 5%.
These are all valid questions and ‘security of the law’ is one of the reasons why many of us still buy in USA; we are familiar with, and know the laws in our own country. Or do we?
real estate land use BW: Just a little bit ways from the ENCORE! Project, so they’re taking advantage of that and they’re doing a mixed use walk able neighborhood that buys into these transit oriented development principles. So, that’s going to be a big part of this.
land use law If you have a credit limit that is high enough for let’s say a $9,000 downpayment on a fixer-upper which potentially makes you $18,000, this could turn out to be a zero downpayment deal afterall.
It is tempting to say “What I really want is a million dollar mansion by the sea, but that is out of my league. I can’t see any way of getting there. So I will focus on getting a 300,000 home in this city because that’s what I can see being able to afford.” If you aim low, then that is what you will get. It is better to focus on the million dollar mansion and perhaps set an objective of getting the 300,000 house in the short term. As they say “Shoot for the moon. If you miss, at least you’ll land among the stars”.
land use attorney There are some private REITs out there or some office syndicators that pretend the world still looks like 2008 with low CAP rates and flat values. HELLO. Let’s assume the asset was bought in 2006. Roll forward to 2011: the 5 year mortgage is now due. It is now maybe $6M. The asset is worth $8M. Most lenders today would not lend 70% on a retail or office tower. Maybe 60 to 65%. Thus, a $5M mortgage can be obtained.. $1M short in a relatively normal market. A recipe for bankruptcy.. and in any case huge investor losses despite a minor correction of value of only 10% to 20%.
A lease option (also known as a rent-to-own in some areas) is a combination of renting and purchasing. Primarily, It involves a buyer who would need some time before a purchase is possible. This person would rent the property from an owner until they are in a position to purchase the subject property. Secondarily, a lease option serves as a delayed sale with the purchase price being pre-determined upfront prior to the tenant/buyer moving in. Typically, there is a set amount of time that a seller will allow the tenant/buyer to exercise their option to purchase the property…anywhere from 1-5 years.
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