All Forum Posts by: Jon Joro

hello everyone and if you’re reading this thank you. i have a feeling this is a basic question but will ask anyway.

I have a potential deal where the seller wants to sell me her mobile home but she does not own the land, the land is owned by the park.

is there anything different you would do when it comes to purchasing in a case like this?

Thx for the feedback. In this case I wouldnt be getting 100% finance it would be below 70% and seller carries the remainder

It's a 16 unit property 

I am in talks with a seller and currently structuring a deal that looks like this.

Purchase Price  $900K - Valuation based on income is 900K

Structure:

$600K from lender + seller carry $300K at 6% interest only for 2 years

My question is can I refinance after 2 years and cash out the seller? Or not because the the refi loan would be at the same valuation of $900K which would be about the same $600K as first loan.

i would have to purchase below $900k to cash seller out? hope that makes sense

@Jordan Archer did this work out for you?

@Brent Coombs @Charlie MacPherson @Howard Herrington @Sean Delisle thanks everyone for the responses! i am going to tell him 2 week inspection period or no deal.

Hey all, new investor here with 1 deal in the pipeline. this is a deal im in at the moment.

I made an offer an a 3 unit investment property and the seller comes back saying “ I could work with your price however this is a cash sale with immediate closing. If funds are received today the quit claim deed can go off to the recorder Monday since its going to be pretty cut and dry; as is, no tax prorations, or warranties offered. With the amount of attention its received I will not be holding it. ”

With all education I have taken I haven’t heard of this. What would you do in this situation?

Thank you in advance