All Forum Posts by: Jonathan Alexander

Are there any tax advantages for the seller if they owner finance to the buyer? I'd like to recommend to an owner that they think about owner financing aproperty so that they can gain some additional monthly income off the property instead of taking one lump sum and having to deal with capital gains taxes... any advice is greatly appreciated.

@Mark S. when and where is your next meet up?

I recently listened to podcast #166 and matt aitchison spoke about when he would talk to private investors about potentially investing and he rattled off some ways in which he helps the potential investor feel confident and secure about investing with him.  I know there are no 100% guarantees but what can you tell the investor besides the agreed upon split of profits, that'll help them feel better about it?  People often say its a tangible asset but if the investors name isn't on the note, how do they have any recourse for it?  Besides laying out potential profits, what else can you tell them will take place, if worse case scenario happens, and you know what hits the fan?  How is their investment protected?

Thanks Chris. @Joe Villeneuve - can you elaborate a bit? What do you mean by pieces? Which houses make sense to hold or flip or which investor to JV with on certain properties?

So I'm trying to take steps to put processes in place to help get the ball rolling. Theoretically I feel like this should work but reality, I feel like, is not this simple:

Have a number of different realtors (possibly wholesalers I've established relationships with) keep an eye out for potential deals  and let me know when they come up  

Have a number of financial partners and lending institutions lined up ready to JV with when deal do come up. Different deals would call for different structures, pay outs etc....

Have workers lined up ready to perform rehab - they've been trained what preferences we have (flooring, colors, hardware etc...)

Rehab, stage, sell.  

This way I'm having the realtors/wholesalers bring me the deals, investors ready to go. purchase it, rehab it, stage it, sell it.

What nuances am I missing?

@James Mudd @Jason Kaufman

Fellas - I'm also interested in getting access to the MLS. Originally I was planning on getting my license but after reading about all the fees associated with it, it wasn't as appealing. My use for the MLS wouldn't be as a typical agent but rather like James said for my own personal use with my own investments. Did either of you figure out a solution? Thanks for any suggestions you may have.

@Hattie Dizmond Thanks for responding Hattie. You're right I shouldn't have used such an ambiguous word. What I should've posted was more along the lines of what you said with regard to not inflating ARV's, manipulating comps etc...

I'm looking to buy another rental property to hold that will cash flow. A few of the problems I'm obviously running into are the hot market and amount of inventory that I'm aware of - I say that I'm aware of because I have limited time to research the internet for deals and don't have MLS access - thus why i was looking for a wholesaler who might already have put in the leg work for deals but wouldn't screw me over in the process YET still give themselves a fair share in the deal.

I've read a number of your posts and appreciate your candor and how often you call people out on the forums for BS "deals." 

SO, if you find something you don't want to buy yourself, please feel free to keep me in mind and send me the info.  Thanks again for responding.

anyone have a trustworthy wholesaler they've bought multiple properties from in the DFW area that they'd recommend? Or have any ideas on how to find one?

Keller, grapevine, Trophy club, watauga are all solid places. Northwest ISD and Keller ISD are all highly sought after. I'm looking to get in over there and my parents have 4 rentals which they bought 3 years ago and are always rented out. Don't know much about further west or south of FW because I'm over in Dallas. Hope this helps. 

 @Joe Villeneuve @Nick Versetto

Nick - how'd did this end up going for you?  

Joe - how do you structure your partnership deals with credit, capital, and management?

I own my home and one rental property and would like to by more to hold to rent. I have an investor willing to put 25 percent down but won't put name on the note. I have good credit score but my DTI is too high so i need a cosigner. Problem is I'd like to eventually own the property out right and not co own it with someone else. My thought was to get a cosigner, pay them a monthly fee until I can refi and get them off the note and then pay buy them out at a certain price i.e.. 3% of appraised value.... I thought this would be a good deal for the cosigner especially since they aren't having to put in any skin in the game except their name on the note. They'd probably make in total 8k or so in 2 years or less.

What am I missing?  Is this not a good deal?  Is there something else I should be trying to do to get a cosigner?  Any thoughts would be greatly appreciated.

Thanks.