All Forum Posts by: Carrie Hallensleben

@Jonathan Towell

Thanks for the additional info. We have a lawyer that we can consult with and definitely want to make a educated decision. Your feedback is much appreciated!

@Josh LeMasters

That sounds like a smart investment! And you made it through your first one without much out of pocket or unexpected issues! 

@Steve Vaughan

Thank you. We drove by and it looks like they are in need of some expensive exterior work ie paint and roof. We will get them appraised and inspect to make sure it is a deal that benefits all of us if we get that far. We haven't yet met with the seller in person. 

@Bill Hamilton 

Thank you for the advice and we definitely will get that before agreeing to terms. 

@Jonathan Towell

Thank you for sharing your insight. I wonder if you could elaborate a little on the 6% seller financing deal. Did the deed get switched into your name? Were you worried about the due on sale clause? If the seller kept his mortgage and is paying it after from your payment to him, is he still paying the escrow (taxes/insur)? Would that mean the insurance is in his name? Also how do you insure he makes all the payments and you don't go into foreclosure. Did you have an attorney write up the contracts between you and the seller? Thank you very much for the feedback! I appreciate it!

@Brian Gibbons Thank you very much for taking time to reply!

I have found an investor who would like to sell a bundle of properties (3 SFH) in an area that I am very comfortable with. He has them priced below appraised value but the appraisal was done in 2009. He is willing to do seller financing but he has a traditional mortgage in place. We are meeting this week and I have a call into a lawyer. I have been reading like crazy about subject to and lease options. I want to show up with knowledge and this is the first seller financing deal I've ever negotiated.

Because there is a loan in place, I'm worried about a due on sale clause.  

What I know so far: 

3 houses - asking price $327,000 - current monthly rent $2600

Don't know any details of current mortgage or amount of equity

From our side:

We'd be able to put down 10,000 or 15,000 -(some of which would be borrowed money from our HELOC)

We'd love to do a 15 year seller financing and own outright at that point

Questions:

How would you structure the deal?

What kind of interest should we be paying?

How does the 5% over market with no interest at 180 payments type of deal work? (read about it on BP)

Could we set up a lease option that allowed for some of the payment to go to principal in order to drop the purchase price and then finance out later on? 

Looking forward to your ideas!

@Mike Pena

Congrats for jumping in to the adventure of REI! It sounds like you have a lot of great background knowledge that will help you be successful.

I think @Brie Schmidt from Chicago started this idea which I love!  I've added a couple of questions to the bottom. So here is goes...

 Make sure to tag someone at the end of your post!

What to include in your intro:

=================================

Name:

Investing Styles:

Types of Properties:

Target areas / cities:

I'm looking for:

Why you should contact me:

Would you want to meet up and network soon?

If yes, are weeknight evenings or weekends better for you?

=================================

I'll go first:

Name: Carrie Hallensleben

Investing Styles: So far two rentals and would like to get into flips and possibly multifamilies (my husband is in the home remodeling business which is very handy!)

Types of Properties: Higher end rentals in a great school district

Target Areas / Cities: Kansas City Northland

I'm looking for: Other investors in the area to build connections, Potential private lenders, Partners

Why you should contact me: To swap real estate stories and to learn from one another, to learn more about some of the markets in the Kansas City metro area, and for potential team building and joint venture opportunities.

Would you want to meet up and network soon? Would love to!

If yes, are weeknight evenings or weekends better for you? Over the summer weeknights but during the school year weekends are probably better

@Thomas Hallensleben

@Connie Covert

@Nathan Brooks

I think @Brie Schmidt from Chicago started this idea which I love!  I've added a couple of questions to the bottom. So here is goes...

 Make sure to tag someone at the end of your post!

What to include in your intro:

=================================

Name:

Investing Styles:

Types of Properties:

Target areas / cities:

I'm looking for:

Why you should contact me:

Would you want to meet up and network soon?

If yes, are weeknight evenings or weekends better for you?

=================================

I'll go first:

Name: Carrie Hallensleben

Investing Styles: So far two rentals and would like to get into flips and possibly multifamilies (my husband is in the home remodeling business which is very handy!)

Types of Properties: Higher end rentals in a great school district

Target Areas / Cities: Kansas City Northland

I'm looking for: Other investors in the area to build connections, Potential private lenders, Partners

Why you should contact me: To swap real estate stories and to learn from one another, to learn more about some of the markets in the Kansas City metro area, and for potential team building and joint venture opportunities.

Would you want to meet up and network soon? Would love to!

If yes, are weeknight evenings or weekends better for you? Over the summer weeknights but during the school year weekends are probably better

@Thomas Hallensleben

@Connie Covert

@Nathan Brooks

@Floyd H. Wishing you the best of luck in your journey!