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Beginners Board
Found a place, now how to afford it.
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<blockquote data-quote="upfrombottom" data-source="post: 758430" data-attributes="member: 13088"><p>I'm all for helping people out. I purchased my first two peices of property, because and only because the owner was willing to help me, and I have done the same for other people on property I owned.</p><p></p><p>Ever hear of a lease to purchase agreement. Basically its a win/win for the seller and the buyer. I don't know if it is legal in your area but it is definitely something to check into. Basically its an agreement, between you and the land owner, where you make agreed upon payments on the land as if you were leasing it plus interest. If you default on the agreement, all payments are considered rent and you and the owner just part ways. Basically he is financing it for you. His benefit, financing it helps with his capital gains taxes, and he will gain a great deal more interest than he can on any other investment with hardly any risk.</p></blockquote><p></p>
[QUOTE="upfrombottom, post: 758430, member: 13088"] I'm all for helping people out. I purchased my first two peices of property, because and only because the owner was willing to help me, and I have done the same for other people on property I owned. Ever hear of a lease to purchase agreement. Basically its a win/win for the seller and the buyer. I don't know if it is legal in your area but it is definitely something to check into. Basically its an agreement, between you and the land owner, where you make agreed upon payments on the land as if you were leasing it plus interest. If you default on the agreement, all payments are considered rent and you and the owner just part ways. Basically he is financing it for you. His benefit, financing it helps with his capital gains taxes, and he will gain a great deal more interest than he can on any other investment with hardly any risk. [/QUOTE]
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Found a place, now how to afford it.
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