All Forum Posts by: Simon W.

thanks for the responses.

The seller is the heir. His parents bought it back in 1970 so it's free & clear.

Cap rate is approximately 9-10%.

Well right now, im checking discussing this with an investor that might fund the project.

Joel Owens, I appreciate your comment.

I do have some money, but no where close to a down payment.
This property has been in the market for over 3.5 years and still haven't sold. So that's why I want to see if seller-financing is do-able.

The seller is actually still fixing up 2 of the units and those are the only units that are not occupied.

forgot to mention. The property is located in PA

Bill Gulley, thanks.

The problem is with the money haha
but i'll be sure to keep coming up with ideas and see what kind of solution is available.

Not so sure how to go about this.
There is an 8-unit building that is being for sale by the owner is the heir. However, it is listed with an agent/broker.
I don't have the funds, but I definitely want to see if Seller-Financing is an option with the seller.

How does this work if the Seller Agent is involved?

Anyone got into the same situation or similar one?

BTW, feel free to connect with me! Love to network with everyone here.

Thanks in advance.
Simon

Chances are highest rent prices usually mean the properties are more expensive.
Cheaper properties usually means lower rents.

If you find a great deal with low price property in a high rent area than you found yourself a big cash-flow. It's there, but it's not easy to find.

Hi John, welcome to BP.

Let's get connected and maybe we can do some projects together.

Agents can get you comps, find you new properties quick, if you tell the agent what you are doing and if he/she is on the same page as you then I am sure you both can create a win-win situation.

Hi everyone,

Okay so I stumbled upon this REO that is being sold for $14,500. I haven't really thought about getting REOs till recently so don't know too much on how the process goes.

I do not plan to resell it because I want it as a rental property.

What I want to know is how much will it cost me in total to own this property?
I plan on paying all cash upfront. Or maybe put 50% down and do a 5/1 ARM? I have to be pre-approved by the lender themselves. Hence, why I plan to pay 100%.

So say I pay 100%.
What fees/expenses should I be looking at?

I just want to know how much in total it would cost me, so I can plan out the financing part properly.

Thanks!

Welcome to BP!
When you sell your mobile home, where will you be staying?
What kind of niche are you going for?

Where is your target market? Are you planning to invest out of State?

Hi Andrew Filipe, welcome! There are many creative ways to get into RE even with little capital. I am sure you found some ways when you were snooping around here.

Join a local club to build yourself lists of investors and this can help you generate leads. Maybe you will find a JV Equity partner that can fund your deals while you flip.