All Forum Posts by: Dillon Bergey

@Nicole Holcomb Thank you for your opinion. So they are not currently on the market. They are in average condition. But that doesn’t so much concern me. I am a plumber by trade and not afraid of the maintenance or upkeep. The cheaper duplex is old but cash flows well. The other duplex is well below what market could be, with just a few cosmetic updates inside. As far as tenants they will stay and just signed leases in July.

I am more questioning on how to approach the financing on the second property. I am planning a short term lease to own/contract. In order to save up enough to put 20% down, to get traditional financing. I am hoping realistically to be under 6 months and have the 20k it will take to buy. Any thoughts on how to structure a deal that would work good for both parties.

Hey guys, so I’m just getting my feet wet in the real estate world. I’ve been reading and listening to anything and everything over that past year. I didn’t know when to jump in until last week a long time friend approached me with a deal.

Right now he owns two duplexes in the town I live in and they are about four blocks apart. He wants to sell both and is willing to work with me on financing the second. I have bank financing on the first property with 5% down on 155k. I will live in the lower level and rent the upstairs.

My question or two questions is on the second property ask is 110k he will do 100k if I buy both. He has said he will work with me to buy it with seller financing/rent to own. He wanted me to put together some options.This duplex cash flows about $450 after all is said and done. So with both properties I’m hoping to live free and cf 100 - 200. I’m open to any thoughts anyone has about the deal in general, and also if any suggestions on options for financing. I have about 10k to work with after down payment on first duplex. Anything helps, totally newbie looking for info.