All Forum Posts by: Kathy Moser

I got so much out of this when I did it!  Ashley provided so much value.  It was so well structured and the resources provided were excellent!  Highly recommend!

Thanks Matt for taking the time to reply!

Hey Amazing Real Estate Rock Stars,

I'm doing an off market deal and have been offered seller financing.  

It's a multi house deal and all the houses have cesspools that need to be upgraded.  

The town requires septics to be upgraded within 6 months of transfer of ownership so I had proposed an installment plan offer, doing a house every 18 months and refinancing out to BRRRR the money into the next house. I don't have enough cash to do all the septics, a down payment and still have sufficient reserves.

Just wondering if it might work to get a mortgage for part of it which would take care of down payment and then some, seller financing for the rest and then do all the septics at the same time.  

Does anyone have experience combining seller financing with a mortgage?  Thanks!

Thank you Theresa. just needed to put it out there to people who would understand

I've been negotiating for months with the nephew of the deceased owner of the property where I am renting. Have put over 100 hours of due diligence into it. It's 3 houses. 

I sent him renters for the other houses which have been vacant for over a year. 

Submitted my 3rd offer last week based on discussions of my previous offers and what they want. 

Asked to meet to go over it. So far all our discussions have been standing in the driveway.

Just heard last night from one of the future renters and it seems like maybe he's not going to sell after all. Heartbroken and a bit disappointed he has not let me know that.

I know it's not over but this part of the waiting is hard.

Just made my third highly researched and documented and organized offer on the 3 house off market deal I am chasing.  I did not know how to do any of this 6 months ago.  Sending prayers that it is accepted!  Thank you Bigger Pockets!

Doing a seller-financing deal for multiple distressed houses. Total offer is $350,000 at this point. I want to do an installment sale contract because they all need septics, which have to be done within 6 months of the sale, estimated at $150,000 including surveying, engineering and permits. The town seemed open to possibly negotiating on the time line. The seller is open to that but would prefer to do it all at once.My lawyer suggested offering to buy them all at once, $50,000 down, $750 per month interest only for 3 years, then I'll refinance.It will cash flow a little bit at this rate, about $200 per month.My plan was to BRRRR them one at a time.Thoughts? Thanks

Stephanie,  Thank you so very much for providing this valuable info that can make a real difference for me in this process.  I'm so grateful to get the benefit of other people's experience on Bigger Pockets.  This is actually my first deal so following the guidance has made such a difference in getting my offer taken seriously and negotiating effectively.

Do you do these kinds of loans BTW?  Thanks again!

Thank you Stephanie.  As it happens I'm doing the rentals first with seller financing, then doing the primary in a year or two, hopefully with a conventional mortgage, although seller financing is also an option.  There are legal issues with the property that need to be resolved before it will be mortgageable.  I'm doing an installment sale agreement, buying basically a house a year for the next three years, but if I can do a conventional mortgage for the primary that would work better for me and the seller.

I really appreciate you taking the time to respond!!

Thanks so much Zev!