All Forum Posts by: Brandon Kessler

Thanks George. That didn't even cross my mind as an option. Both good options.

he may be paying his bill with a credit card that gets great rewards. Knowing him he may want to keep doing that. I know him well..

Also, what about the clause in the mortgage about assuming a mortgage or transferring a deed to someone else? Will this be an issue that you know of? 

the property could bring in 1800-1900 a month. after hoa and (if I financed a 140 loan for 30 years) I'd be at a +600 cash flow a month. If he wanted 140 for it.  Still up for negotiation. I'm def trying to avoid getting a loan. 

I do have some cash saved.

So from what I am understanding:  a wrap around mortgage is a contract between me and him that adds in the payment for equity he has gained. Separate from the current morgage I will be paying off. Both the morgage and the wrap will be sent to him each month for him to pay the lender. This correct?

Looking to purchase a condo from a freind. He moved to Dallas and he has been paying his HOA and morgage for several years now all wile the condo is vacant.

I approached him about purchasing it and he seems very interested.

I am looking to purchase it by means of subject to. He still owes about 70k on the property and purchased it around 110-120. Several years back. From what I'm looking at it may be worth around 140k-150k currently. 

Without pulling a laon and making this a win win for us both, how can I structure this and approach him with this plan. He seems very motivated. I dont completely know how to arrange this to happen on top of making him aware that this is common and not illegal. Knowing him he will question it. Lol

The reason I'm doing subject to is because I'm currently fixing my credit and probably will not qualify for a loan.  Thank you for any help guys. 

Hello there...currently learning to navigate this app..can be frustrating at first. It's not letting me post a picture. It just won't do anything when I click load a pic. :/

My name is brandon. New to investing but looking to make the next step. Looking for like minded people to network with. Sellers and possibly investors to work with. 

Hello my name is Brandon.

I'm very new to this but looking to make the next step. Find properties, fellow investors to work with and sellers.