verbatim 1 Report post Posted February 18, 2004 If you spoke with a owner who owed 40 on a home worth 50, and they wanted 50 - leasing wouldnt be attractive, would you do a COA or do it another way. She is living with her fiance in his home, her mom died and left her a home[free & clear], and her son is in her old home that she wants to sell for FMV. I know the answer is simple and i am probably missing it, but if anyone could help me out i'd appreciate it. Thanks Verb Share this post Link to post Share on other sites
MichaelC 160 Report post Posted February 18, 2004 Verb, actually it is fairly straightforward. There needs to be something in a deal that you can grab onto and make a profit from.In this particular case, you can certainly pay full retail and still profit. How? Two ways come to mind immediately. Either lock up a longer term lease with option on the property and assign it to an end user. If you can get some time in the deal, even paying full price is inconsequential because there is value in that time. If you hold a three year contract for today's price locked in, it is not a difficult sell to make a tenant/buyer who needs time before they can qualify for funding that this is a good deal for them. It might be worth a two or three thousand dollar assignment fee.Or, work with the seller and give her everything she is asking for in a Cooperative Assignment, and make your money by putting the deal together for her. You say FMV is $50K. Do you think you can get $57K or $59K by giving terms? If so, the homeowner will love you for it. Share this post Link to post Share on other sites
