Home Buying in Knoxville>Question Details

Ruvok, Home Buyer in Knoxville, TN

Find a private investor to buy home and then lease back to me?

Asked by Ruvok, Knoxville, TN Tue Dec 21, 2010

I've found a house I would like to purchase but my credit rating isn't high enough. The house is a foreclosure and the price has been reduced several times now at a low price of around 28,000 from 40,000. The house is in fairly good shape. I was wondering is it possible to find an investor to purchase it and then lease to purchase it to myself. Or is it possible for the bank to do it.

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Answers

10
I have 2 investors that are willing to do this. They each require 3-5k down, depending on the price of the house. If you have the down payment then I can put you in touch with them . Do you have a house already picked out? Email me alicetherealtor@gmail.com

Best Regards

Alice ADAMS Rocky Top Realty
1 vote Thank Flag Link Tue Dec 21, 2010
I need help to buy a home. I have a house that is under contract that I want to buy, but my mortgage lender just told me that as of right now my debt to income ratio is just slightly too high. I'm looking for a private buyer that I can rent to until I am ready to buy. I'm hoping for some help, I need to move out of where I am ASAP and I don't want to lose the house that I have found.
Flag Sat Mar 12, 2016
My name is Peggy
I live in Houston tx and I sold my home of 40 years and I find I am having a hard time not living in that house. I am looking for investor to buy the house an lease it back
0 votes Thank Flag Link Fri Oct 30, 2015
Does anyone invest in Dove, PA? I have a house that I found it is listed for $169,900, I have 10k to put down and would like to pay around 1k per month. I am going through a divorce so my credit will not allow me to qualify for a Loan but I have worked for the same company since Nov 2001 and I work from the house.
0 votes Thank Flag Link Fri Aug 15, 2014
I am a Real Estate Broker and a Real Estate Investor. This can be done WITHOUT A LENDER. I have bought and sold property for investment purposes for over 13 years through Lease Options (seller/buyer), Land Contracts, Straight Options, Hybrid Loans, Deed Transfers, Memorandum of Option, etc, etc...

I can provide excellent advice no matter if you buy the particular property you have mentioned or not, that will help you to find the next opportunity. The home inspection, termite inspection, code violations (if any), federal tax liens, back taxes owed, major foundation issues and many other items could prove that this is not the house to invest in. Call me to discuss, I will not charge you a consulting fee.

Mike Newton, Broker
Keller Williams Realty
865.694.5904 (o)
865.332.0164 (c)
http://www.linkedin.com/in/michaeljnewton
0 votes Thank Flag Link Tue Jan 25, 2011
Mike, I am selling my home in central Kansas. I am a widow and not the least bit mechanically inclined. My house is a lovely all brick, landscaped, sprinkling system, garage, granite,etc. I am looking for someone to purchase it so I don't have to worry about maintenance, but then allow me to lease. Is this ever a possibility?
Flag Sun Aug 30, 2015
do you invest in PA. I have a house that is listed for 169,000 i have 10k to put down and woul like to pay around 1k per month. I am going through a divorce so my credit will not allow me to qualify for a Loan but i have worked for the same comany since Nov 2001 and i work from the house.
Flag Fri Aug 15, 2014
I have a home in West Central Minnesota 8000 sq foot all the amenities I am thinking would be a good investment. Please advise if you know someone.
Flag Sun Feb 17, 2013
Any other tips the price just went down again?
0 votes Thank Flag Link Sat Jan 8, 2011
I have a possible investor. If you would like to give me a call, I will be happy to see if there is something that I can do for you.

Tommie Cox
Exit Realty Knoxville
(865) 690-4300
0 votes Thank Flag Link Thu Dec 23, 2010
Some investors (myself included) might be willing to do something like this. Yet, we'd need more info before we'd commit to doing anything. Keep in mind that an investor would have to be able to buy that property at enough of a discount to 1) earn a profit, and 2) to offset the risk of a potential default. In other words, this transaction would only work if the bank is willing to cooperate.
0 votes Thank Flag Link Wed Dec 22, 2010
Maybe we could talk. We own 2 homes in Minnesota (1) 8000 sq ft indoor pool etc all the ammenities. We have moved to Oregon and found a home that is perfect with Equestrian Facilities just like we are looking for. It will be auctioned at the courthouse Feb 12th. Help would be appreciated.
Flag Thu Feb 7, 2013
Have you talked to a loan officer yet?Kevin Ramirez
Mortgage Consultant
SunTrust Mortgage
Direct line: 770-277-2341
Fax: 404-739-3213
http://www.suntrustmortgage.com/kramirez
0 votes Thank Flag Link Wed Dec 22, 2010
Yeah I've tried to find a lender. I only have a 5% down payment saved up. Just recently the credit requirement for most mortgages went up to 640 plus I went through heck to find a lender that would lend less than $50k.
0 votes Thank Flag Link Tue Dec 21, 2010
why don't you talk to a lender to see if getting financing is possible for you.
0 votes Thank Flag Link Tue Dec 21, 2010
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