How to Do Business with a Buyer Whose Income Cannot Be Proved
Channel: Real Estate Investing - Blair Halver & Jeff Kemmer
Date: 2020-05-14

Suppose you are lease-optioning a property to somebody that can afford the down payment, but you are not sure if he can continue paying the rest. You have a feeling their money is illegal.

The best thing you could do is be upfront and talk to them. Let them know that people who manage illegal money can’t get FHA loans. The only way to secure a lender is with provable income. Then see what happens.

The decision is yours. It is extremely personal whether you want to do business with them or not. If they were able to pay every monthly payment over the long term, that wouldn’t be so bad, right?  

To listen to more firsthand experiences from real estate investors and entrepreneurs, what they learned from them, and their perspective, please go to blog.blairhalver.com!

Full episode: https://blog.blairhalver.com/risk-little-and-make-lots-in-your-real-estate-business/

✅ We tackle business topics like how to approach a deal that lacks information and how to make a deal out of a five-unit building in Detroit that needs a lot of repairs.

✅ Learn how to negotiate with sellers when there is a VA loan involved.

✅ Hear how rehabbing works and its disadvantages.

✅ Walkthrough a perfect scenario on how significant cash flow is made.

✅ Find out how to do business with buyers that can’t prove their income and the importance of already having properties ready in case lots of buyers turn up.

✅ Finally, hear about section 8 and Dodd-Frank.