All Forum Posts by: Josh Crockett

@Derek Tellier thank you for adding info to this for me.  Can you explain how you decide if seller financing is worth it and your refi out strategy?  I've been really interested in this lately.  Thank you! 

Thanks @Danny N. & @Rachel Fazio for the input!  I really appreciate the BP forum and knowledge held in the members here.  I figure I should learn a lot about everything we could possibly use in our transactions and you guys have expanded the bubble!

I'm still trying to setup in my head the Seller Financing deal that is better than standard financing.  It sounds like that's really to be found if/when the property is owned free and clear and/or the seller is super motivated!

@Rachel Fazio sent you a PM!

Good Evening All, 

I'm very new to the idea of seller financing and something keeps coming up that I don't understand.  Can you explain how to create a balloon and refinance "strategy" for seller finance?  I've seen 1-5+ year "balloons" and only know that at that point the interest rate is supposed to rise to current levels right?  I am also in the middle of a potential SF deal where they have asked me for terms.  $207K requested price, $2025 in rent and that's all I have to go off of, yet they have asked me what terms I want to offer (I'm working on finding out why they want to sell and starting to lay down a personal approach to their situation).  I appreciate the help in advance!  

Josh

I have to ask the "obvious" question here.  Can anyone help me understand why a buyer would sign themselves up for a 10% interest rate?  I'm asking because I'm working on my first SF deal right now where I'm the buyer trying to figure out what terms to offer.    

$207K list price, rent is $2025/mo.  seller is interested in SF and that's all I've got to start with (PM me if you are interested in add'l financials).  Can anyone offer some good suggestions for me as a buyer? Thank you in advance!  

@Ali Boone would you mind if I took you up on that offer as well? I'm a new investor (only 1 SFH to my name) and trying to expand as well. Happy to share any info that helps you get an idea of where I'm at and looking to go! Thank you for your consideration in advance!

@Daniel Fresella, I concur with what @Hadar Orkibi says!  Welcome to LR, it's a great place to live!  Sherwood and NLR are nice (second the 72118 comment), Cabot has great schools if you've got family considerations!

Central Arkansas Team,  

Does anyone know of good wholesalers in the area?  I used to be stationed there in the local area (don't let me current location fool you) and really loved it.  Now my wife and I are looking to try our hand at this side of the house and learn the ins and outs of wholesaling.  Thanks in advance for the assist.

Josh

I think they call it a “Privilege License” and it has to do with number of units from what I know like @Rachel Fazio said!

@Siobhan Brosnan do you mind adding where you're at to the post?  Thank you!