All Forum Posts by: Andrea Burke

Thank you! Appreciate the advice.

Hi all,

My questions are about "seller financing".

 There is a house in my neighborhood that has sat unoccupied for 10+ years since the owner moved out due to black mold. We are not seeing a mortgage on this house. We are thinking about making her an offer, and we are curious about seller financing.

* How does it benefit the buyer when the owner carries the loan? 

* How does it benefit the owner to carry the loan?

* We have heard that this is a way for the owner to avoid "Capital gains"?

* What happens if the owner carries the loan for us, and then we later sell the property to someone else? We know that we would then pay her off, but would she then have to pay capital gains? 

Cheers!

 Thank you Brian! Appreciate your input!

Hi all!

My name is Andrea. I'm new to BP. My hubby, who works as a construction superintendent, has been approached by a friend who has money and wants to buy houses that need some work. The friend proposes that my hubby, using his knowledge, contacts and expertise, run these projects in his spare time/after work. Since my hubby works fulltime, I will learn to run the projects along with him. Obviously legal agreements need to be put in place. What details should be in the agreement? and what sort of percentage should we expect?

Thanks

 Thank you Ken, we will definitely listen.

Hi Everyone,

My name is Andrea. My hubby and I live in L. A. County. My hubby is a Construction superintendent, and I'm a hairstylist looking to hang up my shears after 30+ years. We're hoping to acquire some long term rentals for our retirement. We are currently trying to build our coffers for future purchases, maybe in the mid-west (looking at Oklahoma). We've worked very hard to be debt free (house, C.C. etc.) and this seems like the next phase for us...better late then never! :)  We definitely will need some guidance. We have very much enjoyed listening to BP podcasts where we discovered this gem of a community.

Cheers!

Andrea (and oh yes...hubby!)