Why Abandoned Properties?
When you work with abandoned properties, you can use the best financing in the world – seller financing. There are several reasons why we prefer this to conventional financing. Rarely will a seller ask to see your credit report. If you have credit problems, it usually will not become an issue. (By the way, the young lady I just told you about had no credit, no money, and no job when she made that first abandoned-property deal.) Many times, the seller will be open to creative strategies that will help him get rid of his problem property. After all, what does he have to lose? The property isn’t generating any rental income. It’s just sitting there costing him money. The seller probably has a mortgage on the property that he has to pay every month. More than likely, he’d like to rent it out or sell it, but he doesn’t have the time (or maybe the money) to get it in good shape. In the meantime, another month goes by, and he has to make yet another mortgage payment. He also has to keep ponyi
