Good morning DG Family:
I wanted to know if anybody could direct me in figuring out the best way to close this deal. My comps at 583,000. It is a short sale so I was told that they would accept 350000, I have someone who wants it but is self-employed so they are unable to get a loan because they would need a stated income loan. She is willing to put 20,000 down and pay 2,000 a month. I am thinking about using hard money to purchase the place then lease option to purchase this deal. What cost would I have to calculate to figure out if it would be profitable for me? I have good credit but no real money to help with this deal. I really would like to make this work. Any suggestions?
Lee Jon Sam Fong