Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 8 years ago,

User Stats

287
Posts
29
Votes
Atwan Kwan
  • Property Manager
  • Rockville, MD
29
Votes |
287
Posts

Would you BUY your clients Property!?!?

Atwan Kwan
  • Property Manager
  • Rockville, MD
Posted

Bout to buy my clients investment property!! 

It's been years....

watching, working for others ......and looking longingly .......at the market and others flourishing....

Why now?......

My client, calls me the other day...

He says I'm done with this condo...

I'm ready to retire....I need to sell!!!

As a realtor, I was a pleasantly surprised....

When I started planning out marketing strategy.... 

I realized this was peanuts to my DREAM......

I spend all my time making pennys for others to LIVE their dream......

I LEASED this client's property for him, which he has been earning passive income with his eyes closed for years now......

my pleasant surprise now seemed cheap.... and I thought WHY NOT LET THAT BE ME!!!!!!.....

Anyway, had to share that story....obviously I'm a realtor and want to be newbie buy n' hold investor....

The issue is ....the condo was all cash buyers at 90+ days on market..... because delinquency rate and investor ratio was too high no bank will finance buyers!!!!

How would you structure the terms for the Deal below, I don't want to put down more than $15k.....

Seller-financed:

=$70k - condo (no repairs needed, close to a school)

=$1k - property taxes

=$800/mo condo fees

=Just renewed NO hassle tenants renting for $1600/mo for at least 1 more yr....

I'm the property manager so I know there's no pitfalls in this rental agreement or the property itself....

Loading replies...