All Forum Posts by: David Oxandale

This is a rural property, 3 sfr one property. Thanks for looking.

David Oxandale 913-370-1088 [email protected]

Thought I would throw an update out there. I can tell I was feeling down on my luck from my last post. After reading forums, listening to podcasts, reading books etc you think your going to knock every real estate deal out of the park. Anyways, I was listening to a podcast and it was talking about owner financing. Don't know why it clicked this time, I had heard the concept 1,000 times before. I connected with a Real Estate attorney, had him write me up a contract, posted on facebook & craigslist and the phone would not stop ringing. Turns out I'm in the perfect market for this type of product and everything is coming together. I'm getting 3-7K down and making $100 per month per property. Not a lot of cash flow but I was in the deal heavy so I'm happy with it. 

Thanks again everyone for your help!

200k for all six houses. Probably should be near 100 according to top selling agent and less according to offers from investors.

Megan- I working myself up to have that conversation. I have the cma from realtor I will send. I honestly just don't want them to think I'm trying to pull one over on them. They use this $ for retirement so I'm sure it will cause a stink.....

Ok, so I have been stewing on this for months. I have listened to all the podcasts, read all the books, go to reia's etc....... I'll probably do great on my first property.......then I buy a property for 200K that is maybe worth 100k. Guy I know says thats what he thinks their worth (don't blame him) and will owner finance to me. Six houses, one rented, one almost rent ready, 4 need total rehab. I'm getting bled dry. Thought I could make it work. Have not opened up a talked about this because of the shame, but this is my first step. I need to approach this guy (my friends parent) and renegotiate. I have paid on them for a year. Tried to sell but get low ball offers from 60-120K.  Thoughts

Two properties. Property #1 = 4 single family houses. Property #2 = 2 single family houses

Property #1

4 single family homes. 

ARV - $215,000

Rehab - $40,000

Purchase Price - 122,500

Property #2 

2 single family homes

ARV - 210,000

Rehab - 25,000

Purchase Price - 145,000

I purchased six properties in September with two of them occupied. They each paid two months then nothing. Could not get them to even fill out application. They are very rough people. Pit bulls etc..... I'm in the state of Kansas . Need to evict them. Plan on giving them a pay or vacate letter. Don't have social security # so how do I put a judgement on them? How should I start eviction process?

Thanks for your input. I will be meeting with them this week and let you all know the outcome. I'm sure someone will learn from this experience in addition to myself.

Thanks BP your awesome!

I just purchased 6 single family home where 2 are occupied. They had a handshake deal, are behind on rents with previous owner and keep the homes a complete mess. How do I go about explaining the new rules ( No trash on front porch, Late pmts = eviction, etc) Don't want to start a war.

Thanks!!!

I'm finalizing a deal Augusta ks  near Eldorado and Wichita KS. Does anyone have good contractors or property management in the are??? I am purchasing 6 single family residences as rentals. Owner financed.

Deal set. What are the next steps. 

It has taken a bit but we are closing in on numbers to make the deal. Assuming we agree to a number what are the next steps. What do I need to do as far as title & contract to make sure this deal is legal? Thanks again for all your input. 

On another deal.... I saw an old man climbing a ladder outside of some dueplexs I have been bird dogging on the way home from work. Got out and talked with him. He owns the four dueplex homes i was looking at because they looked vacant. 

1. City is fining him because of cosmetics

2. Renters have moved out in the past 5 years becuase they are old and can't climb stairs.

3. He has to be in his 70's and mentioned his wife is not doing well.

He liked me and did not run me off. Seems perfect for an offer. Can I get some suggestions on how to propose a deal with him owner financing??? How do you propose a deal to someone at that age. He will probably not be around by the time the loan expires. I'm looking to do buy and hold but if flip gets me some cash to do other deals I'm open to it.