All Forum Posts by: John C.

If talk to her about owner financing.  Installment sale.  If she sells them to you that way not only will she make more over time she'll only pay taxes on the income as she receives it.

We are offering a 1st position 7% 10 year contract for deed at 46% LTV with 7 years and 10 months left.

Details:

Original purchase price: $138,000

Down Payment: Buyer put about 36% down ($50,000)

Monthly payment: $1021.75 plus taxes and insurance. Has paid on time every month.

UPB $74,359.00. Collateral value $160,000+. About 46% LTV.

House being financed is a brick front approx 2k sq ft lakefront home in Lilburn Georgia. We sold it a few years ago when the market was tough. The owners will most certainly carry the note to term. Besides the huge down payment they have done substantial work to the interior.

John Clark

(678) 221-4687

[email protected]

We are offering 1st position 7% 10 year contract for deed at 56% LTV with 7 years and 10 months left.

Details:

Original purchase price: $138,000

Down Payment: Buyer put about 36% down ($50,000)

Monthly payment: $1021.75 plus taxes and insurance. Has paid on time every month.

UPB $74,359.00. Collateral value $160,000+. About 46% LTV.

House being financed is a brick front approx 2k sq ft lakefront home in Lilburn Georgia.

John Clark

(678) 221-4687

[email protected]

@Jeff V. Yes thank you that is quite helpful.

Hello all, 

When selling a note what is the best way to determine value? 

The note is a 1st position 7% 10 year contract for deed at 56% LTV with 7 years and 10 months left.

Details:

Original purchase price: $138,000

Down Payment: Buyer put about 36% down ($50,000) 

Monthly payment: $1021.75 plus taxes and insurance. Has paid on time every month. 

UPB $74,359.00. Collateral value $160,000+. About 46% LTV.

House being financed is a brick front approx 2k sq ft lakefront home in Lilburn Georgia.

TYIA!

Are there lenders willing to refinance properties in Irrevocable Living Trusts? Good full doc income and reserves. A paper borrowers.

Hi Phil as you know I've seen your work. You've definitely got the knack. Good luck with the meeting!

For selling 20% is the norm. Record with an attorney. If they have less than 20% do a lease purchase. 

As far as convincing someone to owner finance you unless they have a pressing non-cash related issue you can expect to pay 10%-20% down. Maybe less depending on the market. Of course sweat for equity is another way to get in with low/no money down. Like Joshua said it never hurts to ask. Sellers are motivated for a variety of reasons.

Most of the low/no money down stuff the gurus speak of involves contracting a property with a seller then finding a buyer to close in your stead or some form thereof. Transaction engineering.

Multifamily property in the high demand Brookwood School system of Gwinnett County is next to impossible to find. The Brookwood school system is one of the highest rated school systems in the state of Georgia. Lilburn is in NorthEast Metro Atlanta.

Could be a great house hack. 1500 sq ft brick skinned Lilburn 3/2 SFR main home plus a stabilized and cash flowing 1500 sq ft turnkey 4/2 duplex in the back. Property is 1.09 acres total in the highly rated Brookwood school system of Gwinnett County. Gross rental income from duplex $18,480.00/yr. Should be at least $1800/yr more (one tenant pays $695/mo and the other more recent move-in pays $845/mo). The standalone house will get about $1500/mo in rent. So total gross income of $38,280/yr or cash flow the duplex and live in the house for free or very close to it. For sale for $400,000.

Call or text (678) 221-4687 or PM me for details.

@Sean Dolan How did things pan out?