All Forum Posts by: Kyle Scofield

Thank you @Account Closed !! That shed a lot of a light on my questions.

One final question for you though: when contacting the seller... do you mention seller financing right away? Before viewing the property? Like send them a letter saying "Hey just wondering if you'd be able to do seller financing, here's what I can offer you and why it works out for you? How does your process usually go?

Thanks!

How does everyone go about asking for seller/owner financing? To begin with, do you usually call or email seller about your intrest? Do you tell them you are looking for an owner financed deal before or after you view the property? How do you go about asking them to do an owner financed deal?

Is there a guide/podcast/webinar that I could watch that would help me with this?

Thanks in advance BP!

@Spencer Hoyl since you don't have a lot of money to start with, I'd recommend @Brandon Turner 's book "The book on investing in Real Estate with no and low money down".. If you somewhat know what you're doing in the real estate world, this will open up many doors for creative ways to finance deals with little to no money. Being such a young age (as am I), I would try to house-hack to get your feet wet and live for free.. Good luck sir! 

Welcome to BiggerPockets @Dan Wickline .. Check out the Ultimate Beginner's Guide as a great place to start. It builds a solid foundation and helps you focus on one strategy. Good luck on your journey to help your kids, cheers..

@Paul Sanders www. rentometer.com can you give you a rough estimate of a specific area's average rent. Also, just going on Craigslist, reading classifieds, searching the web... Look for properties similar to yours and what they are renting for then formulate your own rent number..  Hope that helps!

Welcome to BiggerPockets @Gustavo WoltmannI'd recommend starting with the Ultimate Beginner's Guide here on the site. It was made by @Brandon Turner and @Joshua Dorkin. It provides an excellent foundation for someone just starting out. Also, since you mentioned interest in rentals, it wouldn't hurt to buy another book by Brandon called "The Book on Rental Property Investing" Any other questions let me know, hope this helps!

What type of information were you looking for? Are you asking HOW to buy a house or what an FHA loan and it's requirements are like? @Rick Alvi

Welcome to the site @Mathew Williamson ! Check out the Ultimate Beginner's Guide here on the site.. Builds an awesome foundation and is a great starting point. Good luck with your journey

That's a question you've got to ask yourself. Is $26.50/month worth it? Assuming you put 20% down on the house ($31,000), your yearly cash flow is only $318 ($26.50 x 12 months). That's only a 1.02% return on the cash you invested for that year ($318 / $31000). In my opinion.. No, the deal is not worth it, you can earn 6% on your money by just sticking it in a fund for the stock market so why not shoot for more?! But you did do a good job of including other expenses in there. Let me know if there's anything that needs clarification.. Hope this helps @Brian D. !