All Forum Posts by: Lindsey Bodner

You're correct that they would make payments directly to the lender. AND they would also pay me an agreed upon amount monthly. They'd be taking over an 80k loan and buying the property for 125k.  They'd be making payments to me toward the purchase price -- let's say $250/mo for 5 years, then a lump sum. 

We're not headed toward foreclosure. The property is just a hassle (and some years it's an alligator), and I'd like to get it off my hands and put the money elsewhere. My credit is excellent and I am concerned about having the buyer miss payments. I might not do the S2 in the end. 

We're considering selling a property Subject to (S2) -- meaning the buyer would pay closing costs and a downpayment, we keep the mortgage in our name, and the buyer would make the mortgage payments and monthly payments to us. Two questions about this deal: (1) Since its our credit on the line b/c the mortgage stays in my name, we'd put a clause in that would allow me to foreclose on the house and get it back fully in my name if he misses two payments. 

Have any of you done this? How expensive/difficult is the foreclosure process in a case like this?

Thanks!!

Thanks! That’s helpful. And true, “Love” Is strong. I guess I’m hopeful that I’ll like a new one better than my current PMs (in other cities) - enough to recommend. 

I‘M happy to make phone calls from this list. Any favorites here or other comments? 

Hi all. I'm thinking of investing in single family rentals in Columbus, and I'm wondering if anyone who invests there loves their property manager.

Can you recommend someone great? Tell me what you like about yours. I'm looking for responsive, organized, with at least a couple years of experience. Small is fine, big is ok, but reliable and responsive is key. I'd start with one or two properties, but if it works out, would like to invest more heavily (10-15 sfr).