All Forum Posts by: Frank Eimiller

This is awesome! 

Perhaps you could read the guide on "how to screen tenants" in the Education tab 

good luck! 

.@GrantCardone 

Awesome! Where did the lead come from? How many deals did you try to put together before this one worked out? Are you sending direct mail, if so what kind? 

Welcome to BiggerPockets man. Remember what you just told all of us-- your goal is to buy a rental property within 6 months. I hope it happens and it works out awesome for you! 

Thanks Tom, I'll definitely have it appraised and inspected before putting pen to paper anywhere

Was working with seller finance a good experience for you overall? 

Man.. that's a good idea

Also thanks for mentioning 4.ish%, My broker, the seller, and myself have all been thinking 3-5% ish.. 4 is probably good to shoot for 

Awesome! Very detailed post Shawn

I did account for Debt service, forgot to mention that 

What's the BEST way to structure seller financing-- agree to a 5-10year term and refinance out of it/pay them off? 

My broker friend and I have been talking for months at the YMCA about my interests in REI. We put together a possible seller financing deal and i'll be walking through the property in a little bit with him.

When looking through the property-- What are the most important things to remember, consider, mention, etc-- it's an upper lower duplex built in 1922. Both units have brand new furnaces. 

The deal will be seller financed with me bringing a 20% of PP check to the table (lent to me from my Credit Union)-- What kind of term(s) should I be looking for that aren't obvious/What are good things to try and negotiate? 

This will be my first real estate purchase ever, and in my opinion the numbers look pretty good, those numbers being:

59k PP

$1100-$1200 gross rent (monthly between the two units)

I figure after vacancy, repairs, capex, PM (Although i'll self manage initially,) and taxes, etc... I'll cash flow 120-150$/per door. 

Again, this is my first deal and i'm just trying to get any last minute advice or information before I walk through the property for the first time, thanks BP nation for all of the information that's lead to me getting this close to my first deal

Wisconsin Duplex Rental Winnebago Fond Du Lac 

Sorry for bumping the old post but thanks for your shared information David, will definitely help me!