Home Buying in Irvine>Question Details

Cristina Bog…, Home Buyer in

Where can we find a private investor to buy our home and then lease it back to us?

Asked by Cristina Bogossian, Wed Mar 6, 2013

We are currently leasing a SFH in Irvine, CA. We moved into this house in August of 2012 with hopes to purchase this very home a couple of years later, when our credit would be restored and we would be past the waiting-period to finance a house following a short-sale. But… we were recently informed that the homeowner wants to sell the house at the end of our 12-month lease, but we haven’t had enough time to save 20% for a down payment nor would we be able to qualify before the end of 2-years. We have asked about a lease-to-purchase option, but unfortunately this will not work for the current homeowner. We are now looking for advice, tips, referrals, investors, or any resources you may think of to help us purchase this home. Please let us know how you can help!

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Answers

11
I specialize and work with a network of Buyers that specializes in purchasing and renting back homes. They also plan to sell them within a 3 year timeline so they can provide the added benefit of giving you a good shot at purchasing the property when the time comes for the investor to sell. Please put me in touch with your landlord.

Will Miura
Assurance Properties
wmiura@wminvestco.com
949-266-7895
0 votes Thank Flag Link Mon May 13, 2013
The first thing you want to find out is whether or not you qualify for a FHA loan. This may allow you to purchase the home with a much lower down payment than a conventional loan. If you get back to me with the property address of the home that your living at, I will be able to find out if that property is eligible for a FHA loan.

However, you always want to find the best available home in the market when you are ready to purchase a home rather than being too fixated on one property. This may give the seller unnecessary leverage. When buying a home, having many options will allow you to secure the best deal. Furthermore, you may be able to find a home that is more suitable for your families needs at a reasonable price. This may also allow you to purchase your home sooner than expected.

For direct consultation, feel free to call me at (714) 724-1841 or email me directly at philip@ocagent.net.
0 votes Thank Flag Link Tue Mar 26, 2013
Have the sellers contact me we offer 1% listing program and we can save the seller money as well we can set it up to only sell the home to a purchaser willing to lease back the home to you. email or call me for more info Ann 714 588 7676 - http://www.annurias.com
0 votes Thank Flag Link Wed Mar 6, 2013
Of Course the best option is to buy the house now if it is possible since home value is expected to rise 6% this next year and you will be able to gain value in your new home! There are many options you can consider and getting approved by the right lender will be very important and the best thing for you to purchase this house now and make money on it later. I have an expert team behind me that can find you the lowest possible rate with the greatest loan amount you will qualify for. I would appreciate the opportunity to talk with you and discuss the ways in which I can help you get approved for a loan now and buy your new home!

Best,
Amanda Bihr
Call/text anytime: 714-343-3991
Keller Williams Realty
http://www.orangecountydreamhomes.net
0 votes Thank Flag Link Wed Mar 6, 2013
Of all the agents who posted, only Shahriar had the correct answer. Buy the property now - yourself - with less than 20% down.

I have at least 3 great lenders who have excellent 90% LTV loan situations, including FHA which only requires 3.5% down.

As he indicated, home prices are going up - if you wait for another year or two, the home you want might be 20% higher priced, than it is now.

Both today's interest rates, and today's home prices might look like a bargain two years from now.

Ask your landlord whether he has already chosen his listing agent, and whether he has also determined a list price, and then tell him that you will select an agent of your own - there are some great choices on Trulia, including me - have YOUR agent run the comps - to see if the price will be reasonable - and submit a fair offer, from your agent, to the landlord's agent.

I closed escrow a home in Coto like this ( A tenant buying the rental they were living in.) last summer, that never hit the MLS, and it was a short sale, where my tenant/buyer got a great buy! ( A $900k purchase, with less than 20% down.) Their house is now worth at LEAST 10% more than they bought it for!
0 votes Thank Flag Link Wed Mar 6, 2013
Hi Cristina,
I would love the opportunity to help you with this situation. I have a few buyers who are looking for an investment opportunity like this where they would want to lease the house back to you or sell it to you after the qualification period. I would love to discuss these options further with you and help with this process and finding the best option for you. Please contact me anytime.

Amanda Bihr
Keller Williams Realty
714-343-3991
http://www.orangecountydreamhomes.net
0 votes Thank Flag Link Wed Mar 6, 2013
The best option for you to buy now with less than 20% down, since the property values are increasing. call me at 949-400-4677 to find you a loan and property for you. It is easier to finance now than a few months ago, when you have a right mortgage company.
0 votes Thank Flag Link Wed Mar 6, 2013
I also wanted to add that with my cash buyer, because he usually holds a property for at least a year before selling, I can also talk to you about his ultimately just selling the home to you when you can qualify. I don't know if he'll do a 'lease option to purchase', there are pitfalls to that for both sides, I can talk to you more about what those are when you reply back to me.
0 votes Thank Flag Link Wed Mar 6, 2013
I can help you with this, I have a cash buyer who buys homes at fair market value & has allowed the current owner to rent back before he would decide to resell the property, since it's not the owner who lives there, he would just rent it back to you.

Please shoot me an email directly with the address, so I can see how big the house is, bedrooms, location & figure out what the fair market value is right now, please also let me know how much you're paying in rent.

I don't look back on this same Trulia posting for answers posted after mine.

Emily S. Knell
EmilyKnell1@yahoo.com
562-430-3053 c
Realtor Since 1996
Realty ONE Group
Short Sale Listing Agent w/ 99% success rate
0 votes Thank Flag Link Wed Mar 6, 2013
Please get in touch with me I am working with few cash investors for irvine. All the best !

Deepak Chauhan
Cell: 949 748-9834
deepak@housesinsocal.com
Realty ONE Group Irvine
0 votes Thank Flag Link Wed Mar 6, 2013
Christina,
Try to look for an investor who will finance the house and lease it back to you.
Serach for a Real Estate investment club in the area.
There will be plenty of people willing to do this if the numbers work for these individuals.

http://www.womensinvestclub.com/

real-estate-investing-clubs.meetup.com/cities/us/ca/irvine/

http://www.meetup.com/ORANGE-COUNTY-FIBI/

You can go to these group as a guset and will see many investors .

good Luck

Kadibhai (Kadi)
Better Homes & Gardens Gary Greene, Realtor Katy/Houston
Phone: 832-228-7978
Fax: 281-646 1841
Email: kadi.kadibhai@garygreene.com
Web: http://www.har.com/kadi
"The highest compliment I am ever given is when
I am referred to your family & friends!"
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0 votes Thank Flag Link Wed Mar 6, 2013
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