All Forum Posts by: Grace Navera

@Scott Lieberg

Thanks- I think you’re right. No use fixating on what could have been. It’s a distraction now.

@Landon Bleau

Thanks for the reply! I’ve never heard of a partial seller financing. Have you done it before? What were the terms and amount?

Seems like if I explore any other financing it will cut into cash flow...

Hi!

I'm an aspiring RE investor and my neighbor is looking to sell.  Back in September, they were thinking $75k asking price. They weren't ready to sell at that time.  They've done some repairs since then - most notably replacing the rusty metal roof over the home addition.  Now they're asking $120,000.  I re-ran my calculations and it's still showing as cash flowing but it's more money up front than I originally expected.

Please let me know what you think!

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*This link comes directly from our calculators, based on information input by the member who posted.

They said that if they had to, they could move in with a family member.  I am thinking to offer it in order to make the offer attractive and I don't see a major downside (yet).

I'm planning to make an offer on the property and to make it an attractive offer I plan to add an option for the owners to lease the property from me for 1-2 months as they look for their next home.  Any advice out there on how to structure this? 

I assume I would have them sign a lease agreement and put down a deposit?  I want to make this easy for them but I want to make sure I'm protected too.

Hi Alicia, yes, it's pretty nifty!

Yes, it will be vacant.  The owners are currently living there now.  Now that I'm thinking about the closing costs more... I remember that I should plan on paying for the inspection and title insurance etc.  Good call!

Hi Red,

Thank you for taking a look!  The points would be 2%.  Maybe I put it into the calculator wrong.  My closing cost of $650 is based on my lender's info.  Thanks for your general cost for paint and flooring.  I underestimated that cost!  Is that just the cost of materials or is that labor too?

Grace

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*This link comes directly from our calculators, based on information input by the member who posted.