All Forum Posts by: Bryan Compton

@Chad U.

Thank you. I have a call with an an attorney coming up.

@Bob Reinhard with your comment I have answered my own questions. Doesn’t look good for the buyer. I can call the note due in full immediately after 10 days past due.

Hello All,

I’m looking for advice on what your next steps would be when a buyer stops paying?

This is on a land sale contract with owner carry through a note servicing company. No home on property.

We have already sent out a late notice.

Has anyone gone through with foreclosing on land recently?

Thanks.

@Amanda Gisonni I like how creative you are with the mailers. I too would love to connect if you have time...

@David Alberts I have found that credit unions offer some really good heloc options. Low fixed rate, interest only for the first 10 years, and have check writing capabilities. You just don't want to pay it off 100% if you plan on using it again. Some will do 85-90 LTV as well. I recommend calling around and taking notes.

@Brenden Mitchum thank you. Lots of great information. I’ll look into what you suggested.

@Mike Reynolds thank you. Lots of great information.

Steven Wilson, thank you for the advice. I have 2 local banks I'm in touch with right now. 

Other than land value, how would you show the underwriter additional value? My thoughts are previous tax returns from the seller?

Hello everyone. I have a huge challenge ahead of me. I'm fairly new to real estate

investing. I'm a W2 earner, I have a note I'm carrying for 5 years and 1 rental.

I came across a rv park with 9 spaces and 6 1970 mobiles that come with the property. The place is full with a great monthly return. 

The owner wants 250k and is open to a small carry for a very short term ( 1 year or so ) 

My question is how can I finance this property? 

Thank you for taking the time to help me!

Hello everyone! So I’m really new with real estate. I’m in the middle of doing a brrrr on a single family. The property behind came up for sale and is zoned light commercial. The price was right so I jumped on it. For 2 reasons. 1 I control what type of neighbor is behind my single family. 2 this could give me a potential property package when I’m finished to make a higher return.

Now what should I do that keeps my costs down and gives me the highest return? The lot is bare land and is land locked by the house I own and another house. The county said it could be used for a car lot, towing yard, repair shop, contractor yard and so forth.

My property has 25 feet in width beside the house from the street to the commercial lot.

I appreciate everyone’s input!!!