All Forum Posts by: Account Closed

@Brandon Roof the numbers are kind based off of my house. Are loan was 131k, its down to around 120k, and is now worth between 176k and 194k per zillow.

Some remodleing needs to be done.

The 1% rule wasnt working for the house if i refinanced and rent for $1350.

@Brandon Roof understood! Thank you replying!

Currently watching BP podcast 272, Brandon and David talk about Seller Financing in part of the video.

David- mentions it and says something along the lines of offering 65% or 85% or 100% of the deal if you carry they note?

I am a little confused.

I do understand the seller becomes the bank instead of actually getting the loan from the bank.

My understanding, please correct me if i am wrong and add any advice or examples. (Lets use the 100% seller finance) Does that mean no down payment from me to the seller, and we come up with a seller finance monthly payment (seller's morgage)?

And from what David says, has long has i can get it to cash flow, then the deal it right.

I am passionate about learning this, please comment, mention, connect, inbox message me. I reply pretty quickly. I wake up at 6am, 4 hours before i have to leave for work to learn about this. Reading books, listening to podcast ect.

Thank you in advance!

I understand for the most part how it work when using the example for $100,000 house.

Does anything in the month change if the house is worth

$176k to $194?

Rent is $1350

@Jerrin Harvey connect with @Shawn Ferrell

@Andrew Postell Thats exactly what i was looking for, thank you for taking the time to reply!

Trying to to find my first deal, i have my Agent also assisting with searching for the right deal. Looking to do the BRRR method. I have read the BP book "How to Invest in Real Estate". Now i just to one find a property to buy, and also a morgage loan or lender to fund the purchase of the property and the rehab. I know that banks normally if ever, lend money on rehab needed properties. Just curious if anyone has used the morgage loan and succeed doing so with the BRRR method?

@Alan Brown thanks very much for reply! I am already aware of mutual funds from Dave Ramsey and notice the fees, and how much the fees were over compounding years....insane. no thanks. I want to know what i am investing in, and have more control! I prefer to be hands on! I am working with my Agent to find a deal. I have a few in mind just from zillow, lol i know, but its something. Im using those propertirs to learn the BRRRR calculator, which i used on my own house and my agent said i was SPOT on with the numbers. I WILL get a deal very soon! Connect with me if you ever want property down here in Florida!

@Barry Pekin thank so much for the advice! Greats tips i will look into!

@Allan Smith that is great advice Allan, thank you for sharing. You pretty much nailed my current situation.