All Forum Posts by: Jeff Montanya

@Alexia Ned-Sowell

You’re headed in the right direction. Hit me up if you ever need comps in the HOUSTON area.

Good luck!

@Alexia Ned-Sowell

Absentee owners just means the owner doesn’t occupy the house. Wholesalers don’t sell listed property typically. A wholesaler looks for potentially motivated seller.

@Fili Aguirre in that case I don’t think I would do it. This sounds like criteria for a short sale.

@Fili Aguirre

How much is owed to reinstate the loan?

@Nick C Hypothetical on the full retail purchase price. I am trying to negotiate it down. But if he won’t budge on price then the only way to make this work that I see is interest only because the rental rate is too low with a full amortization. I’m Not banking on appreciation. I would only be concerned with cash flow which would be the difference in the interest I’m receiving from end buyer and what I’m paying him. Typically in this area seller finance buyers will pay up to 110% of retail because the value is in the loan much the same as the value is in the loan for me too in this scenario.

@John K. Brilliant! Thanks good food for thought!

@John K. The end buyer would have to redo out at some point to cash out the original seller. I wouldn’t want to put them in a bad situation. Or am I missing something here?

Thank you for your reply too! 🔥

Can anybody help me understand how to structure and use an interest only loan to acquire a potential free and clear seller finance deal. The seller is willing to take 5% over 10 years. I’m trying to negotiate him to longer terms. The goal would be to wrap the note to end buyer but not sure how or if I could refi the underlying debt when there will be no principal reduction and he is wanting market value. Seller knows that if he reduces price then potentially he won’t make his full asking price if it’s sold within a few years. Hope I’m making sense here. Thanks in advance!! #nosuchthingasadumbquestion 🤘

@Vincent Chen Forney where I live just 10 miles southeast of Dallas is a great area for buy and holds. It's about 8 miles from Mesquite in Kaufman County. 

I bought a 1800sq.ft home built in 2014 for $170k last year and could cash flow $250 easily because of the low interest rates should I decide to rent it out.  We've seen a modest 9% gain each of the past 2 years. I'm not sure how that compares to other DFW areas. I don't think you could get $500 in cash flow anywhere in In the DFW area.

You can find properties under $200k brand new that will cash flow very well around Forney.

I grew up in Mesquite and try to avoid that area whenever possible. It's really gone down hill, but that being said there are some decent neighborhoods scattered throughout.

I would agree that North Dallas would be hard to cash flow. Forney has a great development plan for the future. The small downtown area is getting a complete make over. It's a 20 minute drive into downtown Dallas, but definitely far away from the boom in Northern Dallas and Collin County.

I commute to Richardson and it's a 25 minute drive. They're expanding PGBT SH190 all the way to I20 which will hopefully spur more growth in the future. Definitely a lot further away from the booming areas of Frisco and other towns in Collin county. Just my 2 pennies worth hope it helps.

@robgrant Does the group still meet at  Fox and The Hound in Richardson? If so where can I find the details at?

Thanks 
Jeff