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All Forum Posts by: Edwin E.

Edwin E. has started 14 posts and replied 121 times.

Post: Is the market drowning in newbies?

Edwin E.Posted
  • Investor
  • Tucson, AZ
  • Posts 124
  • Votes 11

Robert Steele Are we bothering you ?

Post: Newbie in Fort Worth, Tx

Edwin E.Posted
  • Investor
  • Tucson, AZ
  • Posts 124
  • Votes 11

Welcome to BP nation Eric. I also call it " BP University " There are truckloads of info available at this site. Make good use of it.

Post: New member in Rhode Island

Edwin E.Posted
  • Investor
  • Tucson, AZ
  • Posts 124
  • Votes 11

Colleen F. Welcome to BP . Enjoy the site.

Post: Newbie from Boca Raton

Edwin E.Posted
  • Investor
  • Tucson, AZ
  • Posts 124
  • Votes 11

Welcome to BP Jeffrey Wells. Enjoy the site.

Post: Seller Financing

Edwin E.Posted
  • Investor
  • Tucson, AZ
  • Posts 124
  • Votes 11
Originally posted by Dawn Rickabaugh:
If I get a property under contract for $100,000 with $1,000 down, subject to an existing bank loan for $100,000 that's a 4% 30-year fixed, with a monthly payment of $477.42, I can either stay in the deal and re-sell, re-wrap to someone who will give me $5,000 down and pay 7% interest, a $665.30 payment, and pocket the $4,000 up front and the $187.88 monthly spread, or I can just flip the 4% financing to someone for a $7,000 fee. Many buyers, even investors who are in it for cash flow, will pay above-market prices in exchange for below-market terms. Many homeowners have no way of getting their own bank financing, so they will gladly pay a premium.

! Great post ! Thanks for sharing. And Welcome to BP

Thanks Tom Goans for your input on this. I'm not a fan of balloon loans either but it seems to me that If you want to get a loan from a HML you got to play by his/her rules. One of the things I have learned from the BP members is that you got to have an exit strategy and that's what I'll do. Before getting in I have to know how to get out. Thanks again Tom.

! Thanks Bill Gulley ! This is the third time I've read your response so I get all the juice out of it. Thanks again.

Post: Please review this seller Financing program and give me your opinion.

Edwin E.Posted
  • Investor
  • Tucson, AZ
  • Posts 124
  • Votes 11

Thanks David Beard for taking a look at that program and giving me your opinion. I really appreciate it.

Post: Please review this seller Financing program and give me your opinion.

Edwin E.Posted
  • Investor
  • Tucson, AZ
  • Posts 124
  • Votes 11

Is it better than dealing with and HML or worse ?

Here is the link

http://www.arizonasellerfinancing.com/20-down---u-pick-.asp

Thanks for your input on this.

Mehran Kamari Thanks. I appreciate the info.
! Have a great day !