Re: Equity partner or OPTION

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Posted by Mag on October 22, 2008 at 08:04:11:

In Reply to: Re: Equity partner or OPTION posted by Michael Morrongiello on October 22, 2008 at 07:17:15:

Thanks Michael for the reply, the reason for "Share Equity" is we like to keep our monthly payments low and we like to acquire excellent property that has great upside potential without the huge mortgage plus we like to use the next few down real estate years to acquire more properties and the only way to do this for us is to get in with partners. The property next door sold for $1.4million 2 months ago, but it has a bigger lot, so we might offer the developer less than $1million, maybe around $950K.

We have not talked to the developer about financing, we are thinking to acquire a 30 year conventional financing where we just finance our portion of the equity position.

Would you explain the OPTION type agreement? maybe it is a better way for us to go?

What would be a win-win structure for what we are trying to achieve?

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