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All Forum Posts by: Jairus Wilder

Jairus Wilder has started 3 posts and replied 6 times.

Quote from @Sean Ross:

Have escrow handle it.

You bring XX to the table

Escrow pays off remaining loan balance.

You get deed of trust or something similar depending on the state.

You pay seller monthly or however you structured. 

Do not pay off his mortgage and then "buy" the property in a separate transaction .

So this could all be handled in one transaction through escrow?
Quote from @Andrew Postell:

@Jairus Wilder ummm, if you pay off his mortgage that means you have to provide the funds to do so.  I'm guessing you would need to borrow these funds?

I have the funds for the down payment so I would not need to borrow that. The seller is looking for monthly income and to avoid capital gains. He was open to seller finance for that reason. 

Hello, I have been talking to a gentleman who is considering selling me his property using seller finance. He does not own the property outright so I offered to pay off his renaming mortgage as my down payment then make monthly payments to him. Does anyone have any advice on how to structure this deal? Also, does anyone have any pros/cons of this. 

Thanks! 

Hows it going. My name is Jairus and 21 years old. I am a first time home buyer in Northern Kentucky and was curious if anyone around this area has any recommended home inspectors. I’ve heard of nightmares when it comes to homes not being property inspected. Any advice is welcome!

@Kevin Hart thanks for the advice, much appreciated. Do you have any suggestions on where I can find meet ups? 

Hello all, my name is Jairus Wilder and I am a 21 year old from Northern Kentucky/Cincinnati area and just got pre approved for my first property. I have lived here my whole life and familiar with the market here so I know where the good and bad places to invest are. I was curious if anyone had any experience buying properties in the Cincinnati/Northern Kentucky area and had any beginners advice or tips to give for rentals in this market. Anything suggestions are helpful!