All Forum Posts by: Ernes Sahic

@Adam Blachnio I am selling the house, so in this case I will be acting as the bank. My thing is I want to make the deal a fair deal for both my self and the buyer. 

I am trying to see the beat way to structure the financing. Should I do a 10 year amortize loan? add balloon payment? These are the reason I am going to a real estate attorney and asked here for some additional tips.

@Matthew Maynard

I found the buyer on Craigslist. I posted an ad with my owner finance terms and had a few people interested. So I am currently working with the first serious buyer now.

I am looking to owner finance my investment property I have out of state. The buyer and I have agreed on terms. 

Property is in Oklahoma 

I plan on contacting a local title company to see if they can help or know of a real estate attorney that can write up a contract? 

I would like some advice from others who have had experience with owner financing either buyer or seller. I would like to make sure both the Buyer and I are covered legally. 

What are some things I should make sure to add to the contract or must have in the contract?

Hello BP,

I am in a little bit of a pickle...

Okay not really, but I do need some advise. 

I purchased a single family investment property located in Lawton Oklahoma. I live in Dallas TX. I started the rehab and got a lot done basically rent ready now. I just received a cash offer, but I am torn between continuing my plan to Buy-&-Hold or change exit strategies by selling to invest into my market where I can self manage.

CASH OFFER= I am having a hard time placing an accurate ARV on the property. Does anyone invest in the Lawton Oklahoma area that can shed some light and help me figure out the ARV? I could get an appraisal done as a last option if I can't come to an ARV.

If the ARV is high enough I would rather refinance to pull my cash out instead of selling for a small profit. That is why getting a accurate ARV is import before you buy. *Lesson learned for next time.

I asked a local relator in Lawton about selling my house and they said the ARV is all over the place so I would have to choose a price to list. Reaching out to the BP forums would be more helpful.

Here is the link to my property info I ran in the BiggerPockets Calculator.

https://www.biggerpockets.com/...

Also has anyone had luck posting their investment properties for sale or rent on the BiggerPockets Market? 

I purchased a SFH in lawton after running some numbers on the calculators. I am towards the end of my rehab and ready to rent, but I recently got a cash offer. The numbers as a rental seem great, but I worry about the high vacancy as well. I'm torn between buy more properties there because there are some great deals to be found, but lots of them need a good amount of rehab and Lawton doesn't seem to have a investor friendly contractor that also does great work. Maybe I haven't found any yet.

What a great post. Very motivating to see your story. You laid it out perfect. 

@Mohammad Nur I will look into that. That’s another great idea and any extra resources are great to have.

@Jonathan Greene that's a very good point. Finding a good agent will be my main focus and searching the MLS.

@Timothy Lewis I haven’t networked with any yet actually that’s another great idea I will use. I could ask a few mutual friend Realtors and also search the bigger pockets agents near me.

@Daniel Haberkost thanks for that idea. That’s what I’m looking for some feedback on unconventional ways of finding property, tracking down the owner and cold calling or mailing them with a potential offer.