All Forum Posts by: Daniel Bork

Thank you Tom S. and Martha Nowlan

I have a complicated question for all you creative wholesalers out there . So I have a 4 unit property under contract. I just received an offer from someone who wants to come in with half cash and owner finance the rest with a short term ( 3-5 yr ) deal. I'm not sure on 1) how to structure the lending part. the 3-5 yr part for the balance

2) what terms should I set for monthly payments

3) I'm in NY which is a judicial state do I have to use a lawyer

4) what are the risks for the property owner and myself

5) when and from who do I get my assignment fee

6) If they have that much cash why not just get a loan

Thank you in advance for the advice !!!

You need to do a bit more home work on the property. Example, are you paying for lawn maintenance, plowing ( depending on your location) electric and gas cost to heat and cool hallways exterior lightning. Vacancies. 

Every single expense you will incure will effect your bottom line and ROI.