All Forum Posts by: Ben Trageser

 Perfect - thank you so much!

Hi all -

I have been looking further into creative financing and have a question. Put aside interest or any other terms.

For example, I agree to a land contract with a sale price of $1,000,000. $0 down, $5,000 payment per month and a balloon due for the rest at the 10 year mark.

At the time the balloon would be due, I would have paid $600,000 off and owe a balloon payment of $400,000.

At this ten year mark, let's say the property is now worth $1,300,000. In theory, I would owe $400,000 on a property worth $1,300,000.

In order to pay off the $400,000, I would then look to cash out re-finance the $400,000 to pay off the original owner. I would then take a 30 year fixed rate mortgage out and the remaining cash and built up equity of $900,000 would be down payment on a property worth $1,300,000.

Question: Is there a scenario where I wouldn't be able to pull out the $400,000 to pay off the original balloon payment? What other scenarios could I possibly run into besides property value decreasing that could cause issues?

Hi! I have a contact who is interesting in renting out his property in Bethlehem PA. He recently got the list of items needed in order to obtain a rental license and pass inspection and is overwhelmed by the 100s of pages of paperwork and "common fails". The house itself is older but in overall good shape.

Does anyone have experience with how extensive the inspection is? Happy to connect to help him out.

Hi all!

Currently living in New Jersey and job is most likely going to fully remote.

As the prices in NJ skyrocket and there is no need to be in New Jersey, girlfriend and I are looking to make a move. We would want somewhere with a lower cost of living, near the beach/lake and can be back in metro NYC area in short flight/drive if need be. East Coast is preferred.

Wilmington and Raleigh comes to mind. We’re a young couple (26) so hoping for nice restaurants, breweries, outdoor areas for hiking etc.

Does anyone have any recommendations in terms of locations?

Following as I am curious as well

 Extremely helpful. Thank you so much!

My friend and I are considering going in on a multi family property. He is in Michigan and I am in New Jersey. Property would be in Michigan. I would not be living in any of the units and be an out of state investor.

He would move into one of the units. Is it possible to get a joint FHA mortgage along with the 3.5% down since he will be occupying it? Does it have an impact if my name is on the mortgage? Is this even possible? I know a single person can do a FHA on a multi-family.

Expensive Expensive Expensive. Lots more competition with real estate and higher house prices but that comes with higher rent prices in this area

Going to visit a multi family home on Sunday and it currently is listed as needing rehab and is not up to standard for rental. What are some main points to be looking out for when I view the home? Newbie here so just trying to learn. Thanks!