All Forum Posts by: Luan Truong

Hi BiggerPockets, 

I am looking to buy a property in Pennsylvania and I live in Atlanta. Does anybody have any experience structuring an owner finance deal out of state? The property has 5 units. Four are rented, the fifth unit isn't a fixer upper. The owner is willing to finance this deal, 75k, with 15k down payment, and a monthly payment $750. The property gives off $2000 if 100% rented. This looks like a no brainer to me, but I'm so new at this and very reluctant because it's on another state. Also, I'm due to some constraints, I can't fly over there to see the property myself. How would BP approach this? 


Thanks in advance for all the wisdom and advise! 

Thanks for the advice Sam! And you're in Albuquerque. That's a beautiful city. Planning to buy some real estate in Albuquerque myself some time in the near future! 

So i'm heading up there with a contractor to go through all of the properties and get an estimate. I will head there this Saturday to check it out.

I don't know about the rent, I use rentometer and Neighborhoodscout.com to get a feel of the rent in the area. 

It is near a university so I don't know if that's  a good thing or a bad thing. I read somewhere that it's a good thing, but then other investors said it's bad due to the wear and tear. So kind of in limbo since I've never dealt with this situation before. 

As far as getting rent and managing the property. I'll have a property manager there to manage it for me and finding tenants. 

I got the owner to agree to an owner finance deal (30 years) no prepayment penalty, no balloon payments. Monthly would roughly be 700-800. 

Thanks for the tip about the phantom craigslist ad. I'll try it! 


Keep you posted. 

So I'm going to Phenix, Alabama this weekend to check on 4 duplexes (vacant)
Requires some cosmetic works, floor, paint, windows and there's a hole in the roof about (3ft by 3ft) for all the units. Sale price right now is about 180,000. I did some research and rent around here is about 476-511. These duplexes  are about 1 mile from the college campus. Appears to be a C-->> going toward a B neighborhood (at least that's what the seller said,,of course right?)

I'm trying to get the property owner financed. 


Has anybody dealt with something like this and what was your experience like?
The numbers look good but I don't know if this is really a great deal? 

What are your take on this Bigger Pockets? 

So I got the listing agent to give me the pictures. That's a good sign right? I'm on the verge of making an offer contingent on inspection and everything. I will do a walk through first with my agent and then depending on how it looks, I will walk it through again with my inspector. 

Definitely will update everyone once this deal comes through! Thanks so much! 

@Ericka Parrott Might have to try it out Ericka! I'll make sure to dress normal. 

@Brent Coombs Thanks so much for the insights into this deal. I am utilizing all the advice that you have provided Brent and see where it takes me. I definitely like the idea of asking the inspector for a a highlights of the inspection for a reduced fee! 

@Tom Keith Thanks Tom. Will try it out and see and also I was able to find a picture of it on the county property records. (Saw trashcan overflown in the front with trash all over) wondering if this is a good sign :). 

Thanks for the quick response Jordan! Let's try and see how that turns out. Excited and nervous at the same time. 

Hi everyone, 

I am new here and new to the real estate investing game as well. 

Currently I am analyzing a duplex in Georgia, it appears like a great deal. The listing price is 65k but from what was listed, the gross rent is 1800. I am looking to do a conventional loan on this property. However, the owner requires that the units can be viewed only during due diligence period only. Also, there isn't any pictures of the property listed on the MLS or anywhere, according to my Realtor. Is this normal in Georgia or is the seller trying to hide something?

I am willing to make the offer but I don't want to waste the inspection fee ($275) and the hassle of drafting up the contract and putting down an earnest money and ending up NOT buying the property. Any insights to this would be greatly appreciated!