All Forum Posts by: Collin Wallace

Like the others said, a good yard manicure and professional photos will make your home stand out! I don’t think the pricing is bad, there’s only 2 others in your immediate area for rent on the market. However, you may be experiencing a slower customer base due to the immense amount of rentals on the market in Modesto.

Very nice! How were you able to acquire 100% funding by private lenders without a down payment? I’m guessing you are referring to money raised from friends/family?

Quote from @Doug Pretorius:

Quote from @Bruce Woodruff:

How will you lock them up, or will you?

The caves or the tenants?

 I genuinely laughed out loud! Also how do you “own” the cave unless you own the land? Maybe I missed that part

I believe the term you are looking for is HELOC? Home equity line of credit.

Feel free to post the link to your ad and we could give better tips. Most of the time it could be the photos need to be better quality, or simply there is high saturation of rentals in the area and your rate isn’t competitive enough.

Quote from @Rick Pozos:

I love to cut out the bank(Those dirty ba$tard$) The problem is that most people want the cash, RIGHT NOW. When they do, there is only a cash offer that will work. Sometimes that is private lender(or bank) or my cash.

If they are somewhat flexible the owner financing comes into play. 25yr amortization with a 3yr or 5 yr or 10yr balloon. I love it. If I am selling I love the same terms. I would rather do a 10 year balloon so that I know I have a certain amount of money coming in for 10 years and THEN a nice chunk down the road. Or you can even spread it out again for another 10 or 20 years if you dont need the money at that time.

Hello Rob, 
If I may respectfully ask a question in your thread?

If I were to sell a SFH I own using SF to an individual, how would I benefit from this? Would I essentially be making money on interest which would normally be paid to the bank? 

this seems like a no brainer.

second question, if the buyer using SF decides not to make payments to me, thus me defaulting on my loan, how does this contract work? The note is still in my name but they aren’t making payments just as a delinquent tenant would? What’s to say they don’t make the 5y balloon payment?

Interesting. How did you calculate $35k in repairs needed?

Quote from @Ed Walker:

Good afternoon BP family,

I have an owner finance deal that I am pursuing and would like the best course of action. Here is the deal:

Property has an ARV of $250,000

Purchase Price is $190,000

Rehab: $5,000-8,000 (for a lease option tenant)

Seller needs $30,000 at closing

Financing: 15 years at 0 %

Rental amount: $1,800

My payment (including T&I): $1,100

Suggests Please!

 Sounds like the numbers work well. How’d you go about finding this deal and making it happen?

Good question, 
Typically Using simple interest formula 

there is also the thought of renting the home out as commercial office space, a business might want to rent out the space for a period of time offering the space to workers to use as office space?