All Forum Posts by: Kathy Armstrong

@Shaun Reilly, thank you for the clarification. Helped a lot. And thank you @Elizabeth Colegrove, @Ellis San Jose, and @Joe Gore! Great advice everybody!

I would get her agreement up front that whatever I sold it for over her asking price would be paid to me. She has nothing to lose since I will not be getting her any less than she is asking. What other way would I do it if she is going to owner finance it?

Don't I have to let her close with the buyer since she is owner financing it? The note will be carried by her.

Hello everyone. I have a lady contact me from my marketing that has a house that is fully paid for. It is empty. She is in another state. She had it listed but it did not sell. She is not desperate and the house does not need work but she is ready to sell and she is open to owner financing the house. I did the comps and I think I can get $10K more than she is asking. She really does not want to deal with it since she is in another state. I want to tie up the house with a contract to give me time to find a retail buyer which should not be hard since it is owner financed. I am going to ask her to agree to me keeping all monies over her asking price. I know I use a regular sales agreement with an option period to tie up the house. But what type of agreement would I use to contract her to pay me the extra money negotiated above her asking price? She will close with the buyer I find at the price I negotiate, but then how do I get my money at closing? I hope this is making sense. Does this sound like a good idea? Any help or advice would be welcome.

Thanks,

Kathy

We had a great meeting tonight! @Jon Klaus was a very inspiring and motivating speaker! Thank you, Jon! I made some VALUABLE new contacts as I am sure others did as well. Stay tuned for announcements about next month's meeting!

here is the events link again @Tom Lafferty https://www.facebook.com/events/152044285006544/

Wish you could make it @Dan Shoemaker! See you next time!

Hey guys and gals! We now have 71 members from all over Texas and Dallas/Fort Worth that have joined our Facebook group! If you have not joined, go here https://www.facebook.com/groups/DFWBiggerPockets/. For you that have joined, RSVP for the event tonight! See you tonight! Looking forwards to hearing @Jon Klaus story and great tips!

I just scheduled this meeting in Meetup. Hoping to draw in other local investors that do not know about this website. The more people we can get to the meetings, the better...more networking, bigger buyer's list, more properties promoted, more opportunities! As @Alexander Bustos said, spread the word!

http://www.meetup.com/DFW-BiggerPockets-Real-Estate-Investing-Meetup/events/141421262/

@Alexander Bustos

okay,, that's good to know Jpeng.

Is there a website or listing somewhere for FSBO besides the FSBO website? Not all of them use that website.

Thanks,

Kathy