All Forum Posts by: Kirsten Mastro

Hello BP community.

I am going to be structuring my first seller finance deal.  The buyer doesn't have great credit and another local investor has offered to co-sign.   I am unsure of what interest rate to charge the buyer.   I know it should be higher than a bank would offer and less than what a hard money loan would cost.  I'm thinking of a 2 or 3 yr. balloon. 

Also- I've heard that structuring as a land contract deal would make it easier to take the property back in case the buyer doesn't pay as agreed.

Any advice? 

Thanks for your input.! 

Thanks everyone for your responses.   I really appreciate the advice.  This was very helpful.

By the way- I said its my first real estate deal.  Clarification- its my first end to end comprehensive investment deal.  Bought the house at auction, full rehab, and selling fsbo.  SO many learnings-

Thanks again

Hello everyone.

I am in the process of selling my first real estate property and I am making a go of doing a fsbo.  I have a question and I'm hoping some of you seasoned investors can help me out.

I had the deal under contract and the buyer pulled out for a bogus reason (didn't get his funding, never kept me informed, sent a text saying he would prefer to find something new, falling out with his agent, blah blah).  My attorney (and me) believe I am entitled to the earnest deposit.   But- surprise surprise he says he's broke and can't afford it.  I mention that his agent has the money already in escrow to which he informs me that she never deposited the check.   Before I call her I would like to gather my facts.

1)  Isn't she required to deposit the check within X days? I think its 3 in Florida.

2)  Do I have recourse against her or her broker if this wasn't done?

3) On a scale of 1-10, how dumb was I not to have my title company hold the deposit.  (don't answer that please)

4) On a scale of 1-10 how dumb was I to only get $1000 earnest deposit?    For this small amount is it worth pursuing.   Right now I want to for principle.  I feel that they took advantage blatantly.  And of course since it was many newbie mistakes on my part its a little embarrassing.

Thanks for any advice!!

Good morning everyone. I am new to this forum and to the business. We just purchased a home in our LLC's name and were asked to fill out a Resolution so either one of the partners can sign a deal without the others signature. Anyone know where I can find a resolution like that?

thank you everyone! This is really great perspective. I appreciate your help. Ok- back to doing my homework to weigh the risk of having only a FL LLC. Thanks again!

Hi everyone. I'm starting up a real estate investment business. I've heard the maximum m asset protection comes from setting up an LLC in Nevada. Nevada Corp Headquarters (than Merril's company) has contacted me to set it up for $1200. Does this sound reasonBle? Any advice? I'm very new so any direction would be greatly appreciated! Thanks.