All Forum Posts by: Malia B.

I'm new on BP. Can someone please post instructions on how to mention people in the forums??? I am surely doing it wrong!

Thanks in advance!

Hi there @ Did you read the book? Was it helpful. I am looking to learn about wraps.

Oh :( that link is void. Did you get some knowledge on the topic  ?

From what I've learned seller finance is best when you cannot get a normal mortgage. So if the house if fine, and a conventional loan would work, then all you need from them is the right purchase price.

I think seller finance is for those who cant get a conventional loan (self employed maybe) or on properties what wouldn't qualify (bad roof maybe). The benefit is to both the seller and owner in that the owner cant sell to just anyone without putting money into the property -or- the buyer cant buy on conventional funding methods.  I've heard of the seller finance loans being higher price point than the equity, higher interest rate and shorter terms.

Maybe consider a subject to option. But in the end if the number don't work then walk away!

update - we had a new boiler installed and the residence are happy again. we were lucky to have some folks we worked with in the past give us a deal on it! we also cleaned the chimney and got new fireplace screens for them to have something while the boiler was in the works. gas company is long gone from responding. still waiting on final words from insurance co.

Thanks everyone. it is a hot water type that uses gas for a 5br SF installed in 2003. The house has been occupied continuously since the boiler was installed. We are getting quotes now.

There was a small crack/hole on the piping that's between the casted metal sections near the flame.

I agree with @Llewelyn A.  

My plan is to get a SFR, set up systems and practice for a year or so while I save for the next property. Then combine my savings with 1031 on the SFR to get a plex.

If you have a plan and the numbers work then go for it! Stay focused on your ultimate goal though. 

If you get rent as cash or equity it goes toward your net worth both ways. You use your net worth to leverage to get more opportunities; cash or HELOC, both accomplish the same thing. There are other factors to consider like liability, interest payments, etc but all "problems" have a solution if you're willing to find it. A robust legal structure can protect from liabilities or savvy tax strategies can make interest work for you.

At the end of the day it's about what processes of transactions you prefer. 

We have a boiler that failed this week (a crack) and needs to be replaced ASAP. Last week the gas company lad a leak on my street due to a valve failure and system over pressure. My guess is that gas company issue caused the crack but the gas company is taking weeks to investigate. The insurance company is saying they aren't going to pay to replace it and will have an official response in a few days.  I'm having an engineer come look at it to see what caused the crack. With this big ticket item ($10K), what should I be doing right now to make the best of this situation?