All Forum Posts by: Lou Santiago

A seller agrees to seller finance their property to me and ask for a $2000 down payment. I then plan on seller financing the property to a buyer who is giving me a 10k downpayment. Ive been told the end buyers downpayment will cover what I owe the seller so i dont have to come out if my pocket 2k, my question is how? 

Thanks for your reply!

Assume all these numbers are 100% accurate. This property is going to be auctioned. I can't see how someone will be willing to pay at the very least $157,000 which is what it's estimated at. My questions is what will the bank do? How will an investor take advantage of this situation? It seems as if the bank will lose money regardless... I'm new to real estate investing and I'm exploring, so any strategies or advice will be greatly appreciated.

Thanks!

Sheriff sale in PA

What are the steps of due diligence when it comes to auctioned properties? Would checking the county's record office suffice? What are  inexpensive yet accurate ways to do a title search?

Do you need access to the MLS in order to be successful with wholesaling?

@Lana Lee I like you're approach to discouraging late payments! I appreciate the advice on what I should be educated on. Thanks!

@Katie Stewart Thanks for your response. I was unaware of the free tenant software. I'm sure I could put that to use. I do have to familiarize myself with my local landlord-tenant laws could you suggest a source? 

@Lana Lee Thanks for you input and response. That was all very good information I could put to use immediately. Do you know some of the biggest challenges he has faced so far managing duplexes?

@Quin Weidner Understood. Having a firsthand understanding of what a property manager does can definitely benefit me in the long run. I do see how the risk and fee's of hiring a property manager impacts your investment. Could you offer a suggestion on how to choose the right property manager? Things to look out for, things that make them worth it ect.?