All Forum Posts by: Lynne Hart

Thanks Chris..... I would still like to hear from actual sellers who have done seller financing so that I can fully review the entire opportunity and make a decision for myself.  

It is a significantly higher price, which is only 30% of the total purchase price (the seller finance portion is 30%) I anticipate the interest rate they are seeking to be 8%.   My questions are what tools are out there for me to evaluate the buyer financially, manage the loan payments (i don't want to do it) and foreclose on them if they do not pay.  (if they did not pay on that loan, I can foreclose and recover the property, correct? - even though they paid 60% cash up front?

Hi all - I have a property for sale and am about to receive a contract that will be cash OR Cash with a portion of seller financing.  I get the concepts but need information and experience from the viewpoint of the OWNER who has provided financing before.   Can someone explain to me all the steps to protect myself?  Placing a lien on the property through buyer underwriting, mortgage processing, resources for the loan processing, and thinking ahead planning for recourse should they default?  I do not know or have any history with the buyer, they are working through an agent.  As of current I am pending a written summary of the offer.   I may lean toward cash just because this is too much to try to figure out and I have a real job!!  But what can the fine people here tell me?

Quote from @Matt Quinn:

@Lynne Hart is a great resource! 

 Thanks @Matt Quinn!!! Shweta, Matt is a great lending partner if you do get started in St. Louis!  I would be happy to talk to you about how I can help and if you want a property specific buyers agreement I'm sure we can make that work.  My goal would be to be such an asset to you that you want to use me over and over again - regardless of the type of buyers agreement we use!  I am an investor and a realtor whose clients are 100% investors.   You can check out my profile here to learn more, message me here on bigger pockets or set up time on my calendar at www.calendly.com/lynnehart   

Hey there!  Is that you?  Are you lurking on BP to learn, find clients, or something else?   I'm here looking for Realtors who are also investors, or Investors who have their license to help convert leads and service clients.  That's right, I have more business than I care to handle and am looking to pay YOU to work on my team, service my clients, and the great news is you get to keep your own leads.  Some training is implied, however the ideal candidate will already be a high performing investor who will know the lay of the land and be knowledgable to service investors.   Please reach out to me on BP or check my profile and contact me otherwise.   My calendar is www.calendly.com/lynnehart 

Quote from @Matt Quinn:

If you're looking for a 2-4 unit, it might be tough to find in Affton. My advice would be to get a Realtor that has experience with investors so they can help navigate you through the process and help you find properties on the MLS and off market. @Lynne Hart is a great Realtor and resource for the St. Louis area!

Hey Matt! Thanks!  I'd be happy to help if you want to message Logan?  Or we can schedule a quick zoom and go from there www.calendly.com/lynnehart 

Quote from @Omar Ababneh:

@Lynne Hart hey i Hope all is well! Yes they have been assisting with this but if they don’t manage the properties then I need someone reputable, and reasonable with their price.

It's not easy these days, anyone like that is triple booked. My husband has a small team and does renovated apartments for myself and my clients spring through fall, so he would be available in a couple months.  The people we typically use during winter have proven themselves slow, expensive, or unreliable this last year.  The others I know are booked solid, I don't know prices but suspect the are more suited to renovating homes.  I notice this post is older. Are you still looking?

Hey Omar, I'll send you a private message.  Not sure who your property manager is but are they a possible resource?

Hi everyone!  I'm a realtor and investor in St. Louis Missouri, with mostly longer term rentals, however I have one short/mid term rental in St. Louis (currently) and two in Puerto Rico.  I'm considering this year that I MIGHT sell one or two of my long term rental buildings and scale up to a short term rental in a new market.  I'm open to consideration, especially if there's a lucrative reason, but am looking for thoughts and considerations in the following areas:

- I think my first spend would be about 200k or less.  

- Considering the Miami/Fort Lauderdale area, maybe something else in PR, or maybe Dominican Republic.  Open to other locations but ideally this would be a location I might like to visit from time to time.   Touristy enough to make money, but prefer not super touristy unless of course the money is insane!  

- That 200k currently crosses me about 29k and net about 22k.  So the reason to make a move would be a markedly better return.  If I find that, I could sell one or more additional buildings for further purchases.

- Also of consideration is long term rentals if the numbers are right, I'm hearing crazy things about the rental rates in some of the major metros.

- Bonus points if you are a realtor and/or short term rental property manager who has a turnkey offering, managed for me.

- I could be willing to do some amount of improvement, but not major projects in markets that I'm new to and not present in.  

- If you happen to be in St. Louis or eastern Puerto Rico - I can cover those locations myself, so no need for help there! (sorry, its what I do for a living).

Looking forward to your insight and possibly new business connections!

Lynne

Yes I did.  I understand that the question was about a conventional loan, however, ultimately I percieve that he wants to just be able to buy property, and can do so using a commerical loan.   Quit W2 2015 April,  Licensed July 2015, Bought July 2016, without having yet filed 2015 taxes, and with full disclosure that my W2 income had changed, and I had only one year as an agent.  The building was operating and cash flowing.  I put down 15% with a local bank.