All Forum Posts by: Baptiste P.

Hello,

I'm looking to understand the process for a seller financing transaction with the owner that is a relative.

My understanding is that a Real Estate Attorney would draft a sales contract and a promissory note, and the title company would do the deed of trust. Is this correct?

I was talking to an attorney today that told me that the title company would be the one doing the promissory note so I'm a bit confused, would love to get a bit more clarification on the actors involved and who does what.

I'm in CA

Thanks a lot in advance

@Chris Gouveia would love to connect once I'm over in CA, I have very similar objectives and would love to share & learn! 

All the best!

Welcome Kendric! I'll be moving to SF too in January, best of luck there!

Thanks a lot Chris for your message and sharing your point of view. Looking forward to see how the market really is and how it evolves in the next year or so, time for me to start building credit score and analyse properties to invest most likely in 2021. Also considering house hacking at this stage, can't wait! 

Sure thing, I'll look them up early next year and will most certainly attend one!

Hey Seung, sent you a PM, would love to connect as we have quite common challenges and objectives, see my post here: 

https://www.biggerpockets.com/forums/55/topics/775752-new-moving-to-san-francisco-ca

@James Wise

Thanks James!

@Joel S.

Hey Joel, sorry I didn't quite get what you are saying

@John Teachout that's a good question.

I guess including all the costs associated to building the house today increased the cost but that's what usually happens on SFH in France just after building they're only worth what they costed. We just have some equity in it that will make us break even if we sell.

Regarding future value, it is near a city that is expanding massively so I plan an increase in value.

Thanks Mike, why do you selling as the best option? I know cashflow is negative but I won't be scaling properties with negative cashflow. I'm looking more at keeping house long term and selling it with increase in value + mortgage repayment, so still making more money than selling it today breaking even?

I made the calculations with taking into account mortgage repayment and after total house repayment, including only mortgage repayment I'd be making 600€ per month (including the negative cashflow and all other aspects).
What do you think? You looking more at negative cashflow over long term that could be reinvested in cashflow-positive property?