All Forum Posts by: Eric Kissinger

Anchorage has some interesting metrics for sure. I think tourism will continue to grow which does not directly impact real estate but does intrigue people to move here (Alaska overall), or at least try a 6 month rental to try to plant some roots. My wife and I are a prime example. Neither of us ever thought we would move to Alaska but after a summer long road trip from the lower 48 we immediately wanted to try it. Granted a job here was a major deciding factor and made it an easy decision, but without the visit we would have never considered. Now we love it. And for the first two years, we rented.

But ultimately it does come down to jobs and opportunity. I think Alaska has wonderful opportunity, but does it have the economic structure/budget to advance rapidly, I don't think so.

Thank you Dennis, that makes sense. In my current circumstance, the lady owns the property free and clear and does not live in it.

Thank you all very much for the replies and information!

Mike M. - I really like your strategy. I am currently working through a free and clear seller finance deal. I hope it work out!

Hello all. I am interested about the pro's and cons of owner financing, rather than 20% investment traditional bank financing. I understand that owner financing can be more flexible as long as the seller is willing to negotiate, and it seems that is can be a win/win for the buyer and seller depending on the terms. I am curious of what others think? What are some things to look out for? Has anyone else had recent success using this approach?  How can this method provide much more value from a deal vs. traditional financing from a lender. 

Any thoughts/ideas are much appreciated.

Thank you Frank. I was totally unaware of this!

@John Thedford

Okay that makes sense. Good stuff sir I really appreciate it!

@Seth Ferguson

Okay Seth. Thanks so much!

@John Thedford

Hey John, what do you mean by take a 1st?

@Seth Ferguson

Thanks for the suggestion Seth! I will not be the only person supplying money in the deal. He will have one other, so that may not be the best option.

What is the typical interest rate hard money lenders use when supplying money to buyers? Is 10-12% reasonable? 5 year term?

Thanks

Hello all, I recently was approached by a friend who is interested in purchasing his 3rd fourplex. He needs some hard money to get into the property. What is a typical strategy when providing hard money for a down payment on someone else's loan? Should I be looking for a solid cash on cash return? How many years should I allow for repayment? Not really sure where to start, any advice is much appreciated.

Thanks!