All Forum Posts by: Marcus Blalock

 Thanks for the reply.  I haven't asked the lender yet, but plan to.  Just wanting to see if BP members have anyone that would recommend as well. 

I am looking for a general contractor, licensed and insured, that works with the FHA 203K program. We got a house under contract yesterday and we are going to use an FHA 203K loan to rehab the house. It is a 2700sqft 4/3.5 house in Dalton, GA (30 miles south of Chattanooga, TN) with a lot of deferred maintenance as it has been a rental for the last 7 years. The home will be a personal residence.

If you are a general contractor that is licensed and insured and works with the FHA 203k program or if you know someone who does, can you please message me your/their contact info and I will be in touch once we get to that stage of the process. Thanks in advance.

I have property that is in my personal name and is now a rental and I want to transfer the property via quit claim deed into my LLC. What is the best way to do this? Are there templates available anywhere online? Does anyone have a template to use?

I am trying to get it done without having to pay a title company to fill out the paperwork.  The property is located in:

State: Tennessee

County: Hamilton

City: East Ridge

Any and all advice is appreciated. Thanks in advance.

Thanks everyone for your replies.  To flip the note, I would have to take a discount.  Is this how I figure out the discount for the 10% downpayment with a 25% discount?: 

Total: 180 payments @ $870 = $156,588 

25% discount: 135 payments @ $870 = $117,450 <- This is what the note buyer would pay me, correct? Or am I wrong?

Can anyone tell me what type of discount I can expect to take?

Also, can anyone give me the names of some companies that would service the note? Thanks

I am about to purchase an investment home and I thinking about selling it using owner financing. I am getting a private loan to purchase the property for $58,000 will put $5000 into rehab (it is a foreclosure that is in very good shape; ARV of $90000) and would like to sell it using owner financing.

Here are the terms I will sell the property for:

PP: $90000

5% down payment: $4,500

Loan amount: $85500

Interest: 9.99%

Term: 15 years

Monthly payments/# of payments: $918/180 payments

other scenario:

PP: $90000

10% down payment: $9000

Loan amount: $81000

Interest: 9.99%

Term: 15 years

Monthly payments/# of payments: $870/180 payments

Do I need to include a balloon: loan due in 3 years/5 years, etc?

How do I go about selling the note? 

Do I need to have a license to do so?  

Any and all advice is greatly appreciated. Thanks.

In Atlanta, check out SRNHomes:  http://www.srnhomes.com/

Welcome Tyrone. I live in Dalton.  If you have property you are trying to wholesale, I'll take a look at it.  I am goind to IM you my email. Thanks.

Hour and a half one way. 

I typed articles but I meant forum posts. The below image is from top right of forum pages.  Sorry for the confusion:

At times when I am viewing articles, I want to email them to myself, but the only options to share articles are Facebook, Twitter, or Linkedin.  

Can you add the option for email as well?  This will save a bunch of time in cutting and pasting links to articles. Thanks.