Recently I've been looking into a program called FARJHO (Flexible and Reversible Joint Home Ownership).
I haven't done any deals with them, but it looks very interesting. They match up prospective home buyers who may have issues qualifiying for loan (even though they have a down payment and ability to pay) with investors. They set up LLCs to jointly own each property. I'm still looking onto it, but I'm impressed so far. It functions as a central clearing house to match up Real Estate agents, investors, and buyers.
The nice thing about it for agents is that once your buyer is setup on this program, you are in a position to look at houses with them and make cash offers! How good is that!
You can find more info at http://investorsally.com/FARJHO.html.
I'll have more to report on this program as time goes on. Also, here are links to some webinars that are held every Friday. My friend Steve Gronlund has become an evangelist for this program and has been presenting it online and in his free workshops for agents on Alternative Purchase Options. If you are in Southern California, you may want to attend one - totally free, nothing to buy. He offers good info on AITDs, land contracts, seller carry as well as this new program.
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