All Forum Posts by: Adam R.

Agree on the 0% part, but doesn't the 50% down payment allow the seller to buy a more expensive property via 1031 instead of waiting for the money to trickle in if I only put 20% down?

I am trying to finalize terms on a seller financed deal. The seller wants to do a 1031 exchange and has reservations about seller financing understandably so. I'm considering offering a large down payment(maybe 50%), then no monthly payments, and a balloon payment for the balance due at 5 years. Effectively it would be a 0% loan. Would this structure help the seller from a 1031 perspective?

Start researching house hacking. That might be a good entry point for your situation.

Would a 4 unit with 3 residential and 1 office qualify for a residential conventional loan? If I occupy the office space for my business, does it make it eligible for owner occupied financing?

If you are considering cabins, maybe also consider yurts.

Agree it doesn't matter in the end, but this is my first dealing with this type of buy.so looking for perspective, appreciate the insight.

I have a lead on a recent tax sale in Rhode Island. The current owner has a 1 year redemption period. The tax bill is significant. My question is why would the owner want to sell to me at a great discount vs listing with an agent and using the proceeds at closing to cover the owed taxes?

Looks like a credit score of 660 would qualify for a 3% down payment program and 620 would require 20% down. Work on improving your credit score in addition to your wholesaling, so you are ready to buy down the road. Good luck!

Here is a link to the homepath program offered by Fannie Mae. https://www.homepath.com/firstlook-program.html House hacking is buying a multi family building to live one unit while renting out the other units. Goal is to live for free or very cheaply.

Welcome! Consider house hacking in Providence. Look for homepath opportunities which are offered to owner occupants 1st before being offered to investors. Good luck!