All Forum Posts by: Jason A.

thanks sal.  I would love to hear more about someone who's made it happen

hey dan, i never did.  are you looking to do one?

Hey Robert, I agree that it's really difficult to find a good PM. I decided to stick with my current PM and had not used Michelle.  Are you looking for a PM in ATL?

@kenthall I would do an owner occupied live-in BRRR.

hi BP community. Does anyone know of any doctor loans that allow for buying a multi-family home?

Hi Tracey, did you ever close on the seller financed deal? I'd love to learn from you if you have. I'm working on my first seller financed deal right now.  ~Jason 

Hi Pete,  thanks for your advice! I've read forums and listened to all the BP podcasts too.  i'm also interested to see if there's a checklist out there for seller financing or if there's someone who's successfully done it before who might be able to mentor me through it. 

Some of the details of the deal.

purchase price: $97,900

Loan terms: 10% down, 15 year mortgage. 

In terms of next steps I need:

1. Draft a Purchase and Sale Agreement

2. get an appraisal of the property

3. find a title company to do the title search/insurance and closing

Am I missing any other steps here?

If we decide to do the loan servicing on our own (I pay the seller every month directly into their account), who does the interest form 1098 at the end of the year?  

Who ensures the accounting of mortgage (principal reduction, interest paid) every month?

Thanks in Advance,

Jason

Hi everyone,

I would appreciate your help with this one. I am a buyer negotiating a seller financed property.  We've agreed on the terms of the deal, but I'm wondering about the mechanics of executing the deal.  Do I need to go through a title company? Where do I find a contract I can use for this deal?  If the seller is financing the deal, who will service the loan?  Do I need to find a bank to do that? or do I just send the seller a check every month. 

As you can tell, this is my first seller financed deal and I appreciate any wisdom and knowledge from the biggerpockets community.  Thank you so much! 

Jason

Hi Community,

I'm trying to see if it's possible to house hack and BRRRR in LA. Ideally would like to find a midtown triplex/fourplex near the metro in the $500-800K range where I could add value. Anyone have any ideas?

I'm also trying to find financing around 5-10% down that is not FHA, preferably without PMI if anyone has any leads on that.

Thanks for the help.

J

Thanks Christy! this is very helpful.