All Forum Posts by: Joel Barjon

Thank you very much, Chris for your insight.

Joel Barjon

Hey everyone,

I bought a property last year using seller financing. Should the seller send me a 1098 mortgage interest statement? If yes, and in case he said no he will not send it, what should I do? Thanks,

Joel Barjon

151,000 dollars

Hi everyone,

Do you know of a lender with good rate and terms. I am purchasing a couple duplexes, and I am looking for long term financing along with a competitive rate. Do you, guys, know of a company that I can work with?

Thanks,

Joel Barjon

Now, I understand why. Thank you, Olson.

Thank you, Dave for the answer.

Thank you, Alex for the insight. I have another question: why is the listing agent asking me to add a note in the offer saying the seller is doing 1031 exchange? It's kind of weird since I have nothing to do with it.

Hey everyone, 

I am about to purchase a duplex in North Carolina, and the seller is selling the property as a 1031 exchange. The listing agent told me that I have mention in the offer the seller is doing a 1031 exchange. Although I have heard about 1031 exchange, I have never done it before. I am going to paste what the listing agent posted as a remark in her listing, and then I would like to read your comments: 

Duplex with an EXCELLENT rental history! 100% occupancy and solid tenants! Located on a gorgeous corner lot, it makes dividing the usage much easier. The cap rate on this property is just over 7%, leaving plenty of meat on the bone for any investor! **Seller is participating in a 1031 Exchange, at no cost to Buyer. Please include this language in your offer, and have Sellers name listed with ''&/or Assigns''. Buyer is aware that seller intends to perform an IRS Section 1031 tax-deferred exchange . Seller requests buyers cooperation in such an exchange and agrees to hold Buyer harmless from any and all costs, claims, liabilities or delays in time resulting from such an exchange. Buyer agrees to an assignment of this contract to TowneBank, a qualified Intermediary of the Seller.

Thank you, Logan. I will be looking for a mortgage broker no later than tomorrow.

No, I said the loan cannot be less than 10 year-term, if I cannot find a 30-year term.

Joel Barjon