All Forum Posts by: Bret Arrington

yes, will be a nice deal.. I have an attorney and in house agent in our system. Ive always purchased our properties outright, nothing creative. Not even sure how to set it up or what to ask. Once I have a plan I figured i would get the contract setup and have my attorney start working, but I have no plan as I dont know the best way to set this one up.

Bret

Wanted to get some ideas on how to structure this deal. We typically purchase outright from seller then do the rehab and put on market when complete.

I have a opportunity to purchase a house from seller who really wants to sell to us..even brought up helping with finance.

The property is in great area, $400k house, he owes about 180k with payments around $1200 a month. The house needs about 30k in rehab and our purchase price will be $260k. He is okay with getting paid once we sell house..seems like a good owner finance opportunity but not sure how to structure the deal.

I would like to take advantage of his offer of help with financing as its will be much cheaper than my normal private money or hard money loans, just not sure how to structure.

Any help or suggestions appreciated.

Bret

Welcome to Greensboro,

I am in Greensboro, purchase many flips, some buy and holds and just recently a 10 unit apartment complex.

Very interested in the airbnb rental market. Have not had time to do much research but we are looking to build our rental portfolio. Would love to hear about any opportunities you run across.

Bret Arrington

AIP House Buyers

yep... they are persistent. That is my findings also, no reviews, no proof of any past leads they have provided..  They could sell me real quick if they had some old lead examples that they provided...even other states than mine.. I told them we would pass on it.

Estate Buyers Club is a  company that provides probate leads to investors.  They are currently trying to get me to join the group for my region.

 Has anyone heard of this or used them personally? Do not see much of information out there on the internet, and a little skeptical of the quality of their leads.

 Any information on this company is appreciated.

yes.. you are correct.. Tax lien will stay with property. That's less than 10k. I was just trying to understand the process if there is not mortgage.

 My attorney has just confirmed only the small liens will carry over which is minimal compared to property value.

I have a question for the group.

I have purchased many houses at the courthouse auction here in NC but obviously avoid the foreclosures by the HOA.

But this particular house being foreclosed on by the HOA has no mortgage, it was a cash purchase, its vacant and 3 years behind on county taxes.

 My thought is whomever wins the auction satisfies the current liens and owns the property with no other issues. Would anyone agree with that? Any input is appreciated.

I'm purchasing four rental properties with cash. Properties currently have tenants with leases and under property management company. I already own four that I have used the Brrrr method to purchase and refi. 

My question is what should I do to pull my cash back out of these four properties? I do not want to do a refi on each one individually If I can help it.. Open for any suggestions or ideas.

Alex is correct on that one. you will be negative every month. Much more to factor in than taxes and insurance.  I would say that you probably paid full retail for that property also, based on the price and the older houses in that area.

I hope it works out for you

Welcome Greg,

 Been doing flips and rentals in the greensboro area for about 7 years now.

 Great area, many opportunities.

Let me know if you have any questions.

Bret Arrington

Arrington Investment Properties,LLC