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Hard Money residential financing: FInancing a SFR for the current tenant

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    • CommentAuthorrajumail
    • CommentTimeApr 7th 2009
     
    Member of Hard Money forum
    There is a SFR in california which is currently under forclosure.
    I am planing to procure this house (Say at 125k)with all cash and the same day want to sell it to the current tenant with owner financing at (at 200K)

    After selling this at double closing I will be the 1st lien holder for a note of 200K at 8% intrest.
    Is it legal to do so?
    regards
    Raj
    rajumail@yahoo.com

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