FAQ No Equity Houses

FAQ No Equity Houses

I hear all the time how do I make money if there’s no equity in the house? Well here’s a couple of ideas:

1.  You can buy the house subject to the existing financing with the Land Trust if the house is in a good location and if the house is in reasonably good shape.  Check the market rent of the area and see how would the PITI payment (Principal Interest Taxes and Insurance) compared with Market rent.  Your exit strategy would be selling on a Proper Shortcode Usage is:
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   lease option.
2. You could control the property with the least purchase arrangement, and do a sandwich lease option.  Hopefully you can make 3% of the value of the property and a good monthly rent spread.  See the tool tips.
3. Lastly you could do a lease option assignment were you temporarily lease with option with the seller and sell the paperwork to a buyer for 3% and then you’re out of it.