All Forum Posts by: Gilbert Vigil

Hey everyone I currently have a duplex I purchased under a real estate contract using owner financing. I am for clarity purposes trying to nail down the best exit strategy. 

I can sell the property outright to a new buyer 

Refinance the property and take out some equity (this option wouldn't be a reality for a while longer) 

Potentially flip the contract to a new buyer that would have to agree to the current terms of my note (10yr 4.5% 5yr 5k baloon)

Regardless I would like to take some equity out or exit entirely to reinvest capital elsewhere.

Any suggestions? 

I personally like the idea on finding someone to take over note however I am unclear with how this works. 

Is it safe to assume I would take the difference between appraisal and loan balance and new buyer would take over the note responsibilities?  

@Greg Dickerson thank you Greg that definitely makes sense. Would you reccomend talking to a mortgage broker?

Hi everyone I am purchased a duplex last year using an REC the note is 10 years however I believe the refinance opportunity may be now with rates being low. Does anyone have experience refinancing an owner finance situation that has any tips ? I would like to get cash out as I have decent equity in the property.

Hey everybody I find myself in a unique situation. 

I have been recovering from a back injury for over a year now. In that time I received a financial windfall. Prior to this I spent years researching real estate and I have found lately that I would like to invest in multifamily 5+ units as the loan terms would be based off the buildings performance. 

Are there other real estate options for me out there as I do not have a 9-5 at the moment but I want to get started investing asap.

My credit is in good shape and I don't have any debt.