All Forum Posts by: Chuck Brickman

I'm a local investor interested in deals in San Antonio.

Just wanted to get some feedback from my colleagues in San Antonio. Has the wholesale market slowed down here considerably? I used to get 6-8 properties from wholesalers a week...now it seems to have slowed to a couple. Anyone else experiencing this? Guess it's time for driving for dollars and letter writing again.

Thanks,

Chuck

Looking for contacts regarding investing in the area.

Mike,

I'm still in the information gathering stages...weighing the pros and cons.

Bill,

Thanks for your note. I have researched the SAFE act and associated legislation. As you mentioned , this is not my primary residence, although my total sales under the auspices of owner financing will be under 5 this year.

Thanks

Great. Thank you.

Mike,

Great comments. I would be ok with a 3 year balloon. Your thoughts about having enough cash for eviction and make ready was one I hadn't thought of. I've also been told that should I sell owner financing and carry the note I would be able to borrow on the note for another property.

I have sold a number of rehabs via conventional financing but am new to owner financing and would like some advice. I live in Texas and am selling a single family home with a 65k list price. There is no mortgage on the property. I just received an offer, thru a realtor, to purchase the house for 65k, owner financing. Buyer would like to pay 10% down, with a 5 year balloon. Buyers wants me to pay title policy. In a nutshell, I'd be paying $3900 in realtor fees, about 600 for a title policy and about 1k in closing.

The buyer has a decent income with no credit, his wife has a fair income with excellent credit. I'm thinking of asking for more than 10% (15%?) and a 3 year balloon instead if 5. Also I would request a 1 year prepayment penalty.

Could I get some comments on the proposal? Also, what provisions should I ensure are in the contract?

Thanks in advance.

I'm in San Antonio and the last 5 cosmetic or "lipstick" rehabs have been averaging about $11.50 per sq ft.

I'm looking for a good, reasonable property manager in San Antonio to handle rentals. Any recommendations would be appreciated.

Thanks