Mark H, Home Owner in Bucks County, PA

I am looking for an investor to buy my home and rent it back to me for an initial lease of several years with the option to renew afterward.

Asked by Mark H, Bucks County, PA Thu Jan 12, 2012

We paid cash for the home and now find that too much of our capital is tied up in it. The house was built 7 years ago by a luxury home builder, was improved upon by us and is in perfect condition.

Are there investors interested in this type of arrangement for PA property? This type of deal is very easy since we have no lenders to deal with.

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2
Edith Karoli…, Agent, Winnetka, IL
Fri Jan 13, 2012
This is a tough situation and a difficult one to find the right investor....

No deal is ever really easy, just to take that out of the way..... The investor, and if a real smart investor, will invest these days only in a good deal, and a good deal is buying something that is priced way low, the investor has the money and the means to hold on to it, by renting it until the market changes and goes up.... For that
the purchase price, taxes and maintenance and the incoming rent have to be profitable at that point and
the location and quality of the home has to still be there if and when the investor thinks it is time to sell, when the market has improved so that a good profit is included....

You are in a different situation than most home owners these days, those with a loan, and the they are under water, by having a bigger loan than their home is actually worth....

I have one question, you only owe taxes and maintenance and insurance on your home, since you do not
have a mortgage payment.... correct?

I am wondering, why you would not get a home equity loan, so that you have a chance to access some of the money currently tied up in your home, interest rates are low these days...

But of course easy for us to say, as we are not familiar with all your circumstances.... You may want to
talk to a local reputable and experienced lender or two or three and a local Realtor for the current market
value of your home. Once you find out what your home currently could, or would sell for, you may change your mind....


Good Luck to you....
Edith YourRealtor4Life! and Chicago and Northern Illinois/North Shore Expert
Working always in the very BEST interest of her clients, buyers, sellers and investors alike!
Edith Always goes the X-tra Mile with a Smile for her clients.....
Referrals are always highly appreciated :)

To get to know Edith a little better, and to find out how the Expertise, Experience and various services
of a Realtor can make the purchase or sale of a property a more pleasant and successful experience go to
htttp://www.tinyurl.com/MeetEdithHere
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Have a happy and healthy 2012
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Annette Law…, Agent, Palm Harbor, FL
Fri Jan 13, 2012
Mark,
You are most certainly looking in the right direction for a solution to your situation.
There are three purposes to which investors work. Each have very specific criteria to which successful investors will adhere. For them, if the numbers do not work, it will be a definite NO DEAL.

If you are willing to sell your home to an investor at 80Cents on the dollar, (the investor will determine the dollar) the conversation can move forward. There are many variations, but for an investor, money, significant money, must be made at acquisition. If you are willing to create this value, an investor would be interested in a home that compliments their portfolio.

If no investors call you, then you should drive around and write down the tele numbers on those bandit signs you see stating "We Buy Ugly Homes" and give them a call. The people behind that sign knows other investors who may be looking for a 'hold' deal. Most investors are focused on the big bucks they can make on rehabs. Depending on the real estate market in your area, your hold offer may get a buyer. There is a lot of options for their money.

Of course you can choose to jump right into the shark pool and attend your local reia meeting.

Best of success in solving your problem
Annette Lawrence
Broker/associate
ReMax Realtec Group
Palm Harbor, FL
Web Reference:  http://www.MyDunedin.com
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