Home Buying in Tampa>Question Details

Adam Callend…, Renter in Tampa, FL

Where can I go to find a private investor to buy a house and rent/lease back to me?

Asked by Adam Callender, Tampa, FL Wed Sep 12, 2012

My wife and I have decent credit (both above 700) but I am the primary wage earner and I have a short sale on my credit from a condo I bought in 2006. We can verify income, employment, and assets. Looking for an investor to purchase and do a rent-to-own back to us. Anyone know where we can find some help? Thanks!

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Loretta J. Buckner, Broker/CDPE’s answer
The numbers (honestly) would work out just about the same if you just rented for the 2-3 years it will take to be eligible for an FHA mortgage. The kind of (hard money) investor you're talking about would charge very high interest, most likely.

Good luck!
1 vote Thank Flag Link Wed Sep 12, 2012
Try GTE credit union. One of my tenants got a mortgage only 3 months after closing a short sale.

All the best,
Alma
http://www.SoldOnTampa.com
0 votes Thank Flag Link Sun Sep 23, 2012
I called GTE and they said it would be a very slim chance of getting approved, they usually require a short sale to be atleast 2 years old. Thanks for the tip though, worth a shot.
Flag Mon Sep 24, 2012
I work with private investors that do rent back. Let me know if I can help!
0 votes Thank Flag Link Tue Sep 18, 2012
Can I get your contact information so I can reach out to you and get more info on the process. Thanks!
Flag Tue Sep 18, 2012
Hi Adam
Based on what your goal as stated above, what I recommend is that you get a down payment together of about 20%, and get a private mortgage lender to finance you. I can recommend someone if you decide to go that route. Just email me if you would liek more information at :

emailmbroker@verizon.net

Kind Regards,
Dwight A. McDonald PA
Broker, Realtor® CDPE,ABR,CPMS
CDPE-Certified Distressed Property Expert
ABR-Accredited Buyer Representative
CPMS-Certified Property Management Specialist
Certified Fannie Mae CreditSmart® Trainer
Brandon, FL 33511-4885
Phone (813) 629-6954
Fax (813) 569-1772
http://www.irptampabay.com
0 votes Thank Flag Link Sat Sep 15, 2012
If you are looking in St. Petersburg or Treasure Island area. I may be able to help you. You would need some cash up front. Feel free to call me at 727-204-0275 Dennis Lockhart- Living Waters Realty LLC
0 votes Thank Flag Link Thu Sep 13, 2012
Hi Adam,

That is a great idea! There are multitudes of ways to accomplish your goals. I have, and am willing to consider a similar arrangement with you.
0 votes Thank Flag Link Thu Sep 13, 2012
Hello Adam -

We have helped several clients with similar circumstances find the ideal home and negotiate a lease option. While hard-money lenders are also an alternative route to owning a home, their terms & interests rates are rather undesirable for most.

Let me know if you would like to discuss your reaching your homeownership goals in more detail.

With kind regards,

Lisa Lowe, Professional Buyers Advisor
Tampa Suncoast Realty, Inc. – Luxury Real Estate Division
15310 Amberly Drive | Tampa Palms, FLORIDA 33647
8351 Blind Pass Road | St. Pete Beach, FLORIDA 33706
813.434.0708 Direct | 813.200.1554 e-Fax Secure
http://www.LuxuryFloridaHomes.ListingBook.com/?&page=buying
0 votes Thank Flag Link Wed Sep 12, 2012
I have a few investors whom do this for people as long as income, employment, and assets can be verified. Feel free to call me on my cell phone 904-710-8056 and I will be happy to put you in touch with them.

Cody Powell, Realtor
J. Powell Enterprises
904-710-8056
0 votes Thank Flag Link Wed Sep 12, 2012
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