Home Buying in 44333>Question Details

Brooke Bird, Home Buyer in Akron, OH

I was wondering if there is a way to find an investor to purchase a home and lease it back to me via land contract or lease to own option?

Asked by Brooke Bird, Akron, OH Sun Sep 15, 2013

I've heard that it is possible to do this but I don't know the first place to look.

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4
Micah Riley 330.338.5130’s answer
Brooke,

How much are you looking to spend. My business partner and I do this on occasion and would be interested in talking with you.

Thanks,
Micah Riley
Realtor
Cutler Real Estate
330.338.5130
0 votes Thank Flag Link Mon Nov 4, 2013
Are you aware when it comes time to pay off the investor a mortgage underwriter is going to follow their rules, not the contract you have with the investor? Fix your credit issue and then buy your own home, good luck,

Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time
I answer questions about financing real estate based on my decades of experience dealing with mortgage underwriters. I do not offer legal or tax advice, if you need answers from an attorney or CPA find one knowledgeable in your local market.
Web Reference: http://jamessimms.com/
0 votes Thank Flag Link Mon Sep 16, 2013
I have investors who will do this.

Keep in mind that an investor is taking a risk and needs to make a profit in order to do this, so the price you will pay the investor is likely to be a little higher than the price she pays for the house, and the interest rate is likely to be higher than what would be available from a traditional lender.

Call, email or text me to get further information.
0 votes Thank Flag Link Mon Sep 16, 2013
Brooke, before we can figure this out, we need to know: how much down payment do you have, and what's your credit score?
0 votes Thank Flag Link Mon Sep 16, 2013
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