All Forum Posts by: Amy McDonald

Thank you.  My goal is to offer our properties with owner financing for 5, 8 or 10 years.  Full disclosure, I kind of hope they don't go elsewhere to refinance, as I would like to keep the properties as long as possible.

Hello!  I am interested in offering owner financing on a Land Contract, interest rate locked in for 5 years.  My question is- how often does a tenant-buyer find alternate financing?  In other words, what are the odds of me getting the full 5 years of payments?  Thanks!!

Hello. I have the ability to buy a 3/1 SFH in a 3 star neighborhood. It is mostly safe, but a bit messy. The home itself is nice.The purchase price is $83,000. This is the same price that it was when the current owner bought it in 2017.The renter has been there since 2017. Rent is $1025 and the contract runs through June, 2022. The renter always makes payments on time.It sounds like a safe move to me...according to my math, I should earn my $83,000 back in about 3.6 years. When I run this scenario through various rental calulators, though, it comes up as being a poor investment. Ideally, I would like to buy it and then sell it at current pricing (Zillow has it at $120,000) to an investor looking for passive cash flow/tenant in place. But perhaps this just won't work as the numbers don't make sense? I just am not sure.Any thoughs are much appreciated!

Hello!  Could you please clarify what a RMLO is?  Thank you!

I am searching for a way to find a list of delinquent taxes for a specific condominium complex in Sunrise Beach, MO Is there a company that can do this for me? Thank you!

Thanks for the response.  Its not my residence...it is a former rental home that I have to trade. 

Hello.  It may be worthwhile to simply buy the paperwork that you need, rather than to try and put things together here and there.  I purchased the paperwork from one of the Gurus a while back and would be glad to share it with you...I have it in a google drive.

I have a home that is a real fixer upper that I own....it is paid off.  I would like to sell the home, and finance the home myself, acting as the bank.  

I have had an offer for my home from a man who owns a home currently that he would like to trade for mine.

His home is worth $145,000 and he owes $120,000

My home is listed at $145,000 (coincidentally).  I own it free and clear.  It needs carpet, paint, interior doors, and much more, including kitchen appliances.  It would be worth $165,000 all fixed up.

I am asking for advice on how to make this deal work.  He would finance my home from me.  I would hopefully buy his home subject-to the underlying mortgage and then have his home as a rental.

Any thoughts or suggestions would be so very much appreciated.

I also have an offer from another buyer for my house for $9,000 down and to finance through me for 20 years.

Thank you!!

Looking for a mortgage broker to help me qualify buyers for owner financed homes.  We are selling our former rental homes and would like to finance them to others.  We are in the Kansas City MO area.  Thanks!

I am interested in purchasing a home from a homeowner who needs out of his house due to being behind on payments. He has health issues and fell behind on payments, had an adjustable rate, etc. The bank is not working with him and so he need to sell ASAP The home is priced at 1/2 of appraised value so it’s a good dealFor me. My question is: Is it illegal for me to buy this home and then owner-finance It back to this gentleman/homeowner who is facing foreclosure? The reasons are: he is older, he is unwell, he has no place to go, he can cover the owner financed costs as they would be much lower than what he has with the bank. I don’t want to do anything immoral or wrong; I realize the mortgage company has been shorted money by him being so far behind on payment. Any thoughts would be appreciated.