All Forum Posts by: Account Closed

@Brandon L. Well I looked up some stuff in the law about it. I haven’t done anything yet. Would partering with a real estate agent make the process legal?

She’s still paying the same amount in total (380k). I’m just getting a small portion of that.

Hey all, I am trying to wholesale my second fourplex. Honestly wholesaling doesn’t even seem like a good word for it. I’m packaging a contract for a fourplex and am bringing a buyer to a seller. I gave my buyer three options: we could partner, I could wholesale it, or we could do a lease option on it. They didn’t want to partner or give me a potential option. And when I said I’d charge a 2.5% finder fee to assign the contract they were immediately up in arms. How do you work with buyers that don’t want to compensate you? She was just fine paying $380,000 to the seller, but when she found out I was getting $10,000 she could not afford to do that. Is there a better way to sort this out? Thanks!

@Steve Vaughan MLO? As in a lease option?

@Matt K. Yes. But I’m going to have to move for training.

@Jay Hinrichs do you have any suggestions for how I could find a way to keep it for a year without using an owner occupied loan?

I found a fourplex I want to owner occupy but I’m currently owner occupying one. I have to wait about 11 months before I can move. Is there any way I can get an interest only loan or something to hold the other property and refi when I can move in with an FHA loan? I don’t have enough money down for a conventional investment mortgage.

I found a fourplex that I want to owner occupy. However I’m currently owner occupying one and have to for the next 11 months. Is there a way I can get a holdover loan so I can move in and refinance in a year? I don’t have much money down. I’m hoping for possibly an interest only loan or something.

@Donald S. thanks! I’ll look into smart move 

@Gabe Hall @Donald S. That sounds good. I just would hate to get all my tenants on one program and decide to switch later. But it seems pretty tenant friendly as well. So you wouldn’t recommend Cozy’s screening documents? They seem pretty simple from their demo but they don’t seem very informative.