All Forum Posts by: Henry Clements

Thanks, Dennis. Yes! That's what I'm talking about! Any suggestions on how to persuade them that it is not what they want really, and why they should sell on terms? Keep in mind his DTI, of course.

Thanks, Chris, thanks, Meir! Meir, It can qualify as an FHA for the same 20% down. So, why not go conventional at that point? Regards to the selling aspect, the property sits in front, across the street, to luxury properties with more than twice the value; B, turning A class neighborhood. Hence, making it desirable to purchase and the notion of the reason why the seller wants cash!

Food for thought on this idea: 

If we were to entertain the seller with seller's assist, which strategies will you suggest using? Typically I'd like to present two-three offers that are a win, win for both parties.

Well, perhaps I should open another discussion on this topic?

Thank you John, thank you, Rick!

Well, this purchase is in South Florida's eastern region to a first-time buyer. Owner finance isn't the first option because the seller wants cash! The buyer will be sharing expense/renting a space for some time to supplement income. However, the buyer feels that he can pay the mortgage on his own. There's a high probability that this property requires a twenty percent down payment, plus closing to purchase (non-FHA, etc.). Is there a way around that with a particular type of loan/mortgage, the buyer only has ten percent down payment and the closing cost? Thanks, I will look into more BP's resources.

Hello,

So, for this time, my topic is about using creative financing! For a first time buyer, with good credit, however, overextended in debt. Can someone like this obtain funding to buy a property within their price range they believe that they can afford? What's taking the borrower over his debt to ratio limit on this one is his high balance student loan! Other than involving the seller with any seller's contribution, how else can this be done to facilitate a closing for this borrower? Any advice, anyone?

Thank you, Melissa, Richard, and Bob, for your thoughts. I use Realtor.com and Zillow all the time, along with GoogleEarth, and GoogleMap and for rental investments, RentoMeter. However, it seems to be a little time consuming and somewhat difficult to narrow my search criteria efficiently. PropStream is an expensive tool for me right now because I'm working with minimal funds. However, PropStream seems to have an incredible data aggregator system! I may have to bite the bullet on that so I can pull the trigger with more analyzed confidence in my future fix and flip, and without exhausting precious time!  

Hello everyone,

Has anyone had any success with tools or resources for getting accurate comps? It seems that there are some inconsistencies in my area when it comes to getting comps I need to effectively show the potential ARVs. If anyone has a method for this or tools to accomplish what I would need, please let me know.

Thanks