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Beginners Board
Found a place, now how to afford it.
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<blockquote data-quote="Aero" data-source="post: 762218" data-attributes="member: 2076"><p>the best deal i have come up with is the interest-only owner-financed purchase and if you cant make the payments, it goes back to them. purchased at the right terms, it's not much more than leasing good land and you have some equity in it. it works better for the seller as well because the seller wont have to pay a ridiculous portion to the IRS and will have predictable income for a good while. with smaller payments over time the amount of money lost to taxes is significantly reduced. the seller has some motivation to give you help/advice as well. you can usually get better interest rates this way with the seller (not some corporate BS rule) deciding what his money is worth. </p><p></p><p>there would have to be some money upfront to the seller (1 yr of interest) that gets everything off to a good start.</p></blockquote><p></p>
[QUOTE="Aero, post: 762218, member: 2076"] the best deal i have come up with is the interest-only owner-financed purchase and if you cant make the payments, it goes back to them. purchased at the right terms, it's not much more than leasing good land and you have some equity in it. it works better for the seller as well because the seller wont have to pay a ridiculous portion to the IRS and will have predictable income for a good while. with smaller payments over time the amount of money lost to taxes is significantly reduced. the seller has some motivation to give you help/advice as well. you can usually get better interest rates this way with the seller (not some corporate BS rule) deciding what his money is worth. there would have to be some money upfront to the seller (1 yr of interest) that gets everything off to a good start. [/QUOTE]
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Found a place, now how to afford it.
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