All Forum Posts by: Deborah Burian

Ok. Have run the numbers six ways from Sunday, driven the neighborhood, talked to local investors, asked a few questions here, read a ton of forums and here we go. We have the opportunity to buy a group of duplexes/garage apts that are in our usual territory. We can do the deal with our bank but 20% down will take all available cash. Owner is somewhat open to financing so thinking of going for one year owner-fi at 10% down then rolling note to bank in a year, using equity in the property to get to the 20% down the bank will want. The banker has blessed this notion.

What all needs to be in the offer? We have a list but don't want to miss anything.

We have a RE attorney who we would rely on for final contracts and a good relationship with a title company.

Thanks for the help.

Like a few others have said... enough to buy #2. Wise?, No. But it all worked out in the end... except buying properties with what is meant to be cash reserves has turned out to be a personal problem, lol.

Scott W., No fair! You mean all those zero down, ez money people are telling tall tales???

Ok, Al Williamson, got my April insurance invoice and month over month, on an ongoing basis, by fine tuning my coverage, setting values at what they should be instead of the insurance company's fantasy AND switching my remaining properties to ACV (Actual Cash Value) from RCV (Replacement Cost Value)... drum roll please... savings of $261.78 a month or $3141.36 annually. Challenge met. I'll PM you supporting docs.

Unless you are planning on withdrawing from society, your info is out there and you can't put the genii back in the bottle. Just the way it is.

A private party such as yourself can and probably should engage a title company to deal with these issues. On principle, we require that sellers pay for the title work... it just seems to us that the seller should present the property with appropriate legal standing.

Prashant P., on occasion, I have winterized a house myself when I wasn't going to work on it for a while and it was going to be cold...

We use a local tenant screening agency and are very pleased.

Rob K, I'd love to know the company if you could pm me please.

Also... has anyone used the National REIA insurance? t appears to be the same sort of policy. I asked at my local meet up and no one there had as yet.

Thanks.

Rob K, when you say you use commercial, can you please clarify what you mean? Thanks.

Will Barnard, not really saying 'smart money on the sidelines." Saying gotta choose your your deals and be patient. Your 7 digit deal exemplifies patience :-).