the general construction company yeah I uh I called off a for sale by owner sign is this wrong number now you got the right number I’ll be there in a minute excuse me you’re at the house right yeah I’ll be there well that’s kind of pushy right so I didn’t really know what I was doing I didn’t know what house gonna buy this property I had no clue so he drives up it’s an old guy like 75 years old he’s just a fast talker he walks me around the property and and he says well

how are you gonna buy this and I said well that’s a mighty fine question he says what do you get of load I said oh there’s no way I could qualify for a loan no no way he goes well I got some good advice reduces what night years from good good idea for you feel I’ll finance the property so what do you mean I’ll finance he was gonna offer since he owned the home with no loan on it he was gonna become the bank so he would lend me the money now at the time I thought

it was the greatest thing since sliced bread now later I learned that he sold the property to meet for higher than it was really worth so it was a good deal for him to be the owner finance person so in other words what happened was he offered it to me for a hundred and fifty thousand 3-bedroom 2bath now now again that was a little higher than it should have been but I was gonna have to put down a down payment at all I just would start paying him each month that make sense so here’s how

it worked out no down payment no bank loan it was a 6% interest loan that I signed on but he never checked my credit he never asked how I was gonna make the payment he didn’t even ask for a down payment that makes sense this was interest-only he was being he was being ultra nice to me because I told him I was like man I’m gonna have some trouble with this payment if you make it too high because I didn’t know what I was doing and so he came back if it’ll all make it interest



FAQS



Related Articles



Useful Guides

how to use equity in your home

Leave a Reply