All Forum Posts by: Maria Vogel

That wasn't my question. My question is-can a real estate agent refuse to ask a question to the seller? Obviously the agent can advise their client and the seller can say whatever they want But its not the real estate agent's call to respond for his client. Its pretty standard to ask sellers if they are willing to owner finance or to even put it in the listing if they are willing. It would be ridiculous to go through a whole bank application and then find out the seller's won't owner finance any of it.

I found a 6 plex for sale. In order to come up with a big enough down payment for the bank-I asked my realtor to ask the seller's realtor if they would consider owner financing part of the down payment. (about $100k). We would refinance within a few years. 

About 10 days ago I asked our realtor to ask the seller's realtor if they would consider owner financing $100k of the price. TODAY I get a text from her saying the seller's agent won't ask the seller until we have approval from the bank that they will accept that! Am I totally off base to be upset about this? Isn't  it the agent's job to present these type of questions to the seller? 

I have talked to the bank about this before-but not this particular property. 

Everyone tells me its 20% on a duplex and 25% on anything more than 2 units around here. I've never heard of only requiring 15%. I'd be interested in finding that one out! 

Does anyone know the typical fee for doing FSBO paperwork? Thanks

We found a great FSBO deal-I talked to a real estate agent about writing up the paperwork for us and he wants to charge us $1500 to do the paperwork. Is this a typical fee? It seems high.

We are doing a partial owner finance deal and the realtor said he doesn't know how to do that. Do you know who typically helps you set that up? Title company? 

@Jen H. I've never wholesaled-good idea! How does that work? How much can you make on doing something like that? Can you explain? I understand the general idea but not the details. 

Hey @Alan Brown and @Dave Foster. Thanks so much for the advice! I was going to do a 1031 exchange but my CPA said I won't end up paying any taxes because my husband sold a house this year also and took enough of a loss on it that it will cancel out the profit on my Butte house :) Its such a relief and I hope she's right!!! She put all the numbers in and said we'll be fine. Dave I owned the house for 8 years. If I do another flip with the profit though, I may be in trouble with taxes though. 

Firstly, I did offer a low offer in cash. He came back and said it was too low but they want to negotiate and are willing to owner finance!!! YAY! I told them I would offer more if they will finance and asked for a counter. I haven't heard back. I hope it works out!!! Its a great deal and it would be so perfect if he owner finances it. Even for a few months while we renovate! 

Thanks for all your input and advice-you guys are invaluable.  Please help me with this private money thing. I am not sure how you "find" private money. I have talked with a few people that I know who are investors and they are all busy with their own projects. I have talked to almost all the friends and family I know that may have some savings or be interested in investing and no one has money or they aren't interested. How do you find private investors? Someone suggested a GC-how would I go about finding one? Call up general contacting companies and just ask them? I need to find out how to do this!! 

The same question with a partner-I don't know anyone who has money and wants to invest in real estate or has a vision for it to partner with. I have tried to connect with a few locals on here but haven't heard back from anyone. There are no real estate clubs or groups around here.

I am a nurse practitioner so I work with a lot of doctors but how do you approach someone and say "Hey do you have money-do you want to invest?" without it sounding like a scam? I've tried with the ones I am closest to and have had no luck! One doctor I work with used to have a lot of rentals and a was very successful with real estate in the past. I've asked him for "advice" in hopes he show some interest but he has not indicated he has any interest in investing and has warned me that it can be a huge headache. I met with another doctor who is retiring and told hm what I am doing and my plan and told him I need investors and he told me I should focus on my career in medicine and forget the real estate thing. (not very encouraging!) 

I met with another prominent investor in the community who was very discouraging and almost seemed to look at me like competition. He didn't seem willing to share any "Secrets" and said the market is crashing again and we shouldn't invest. The others I've met with were wonderful but are very busy with their own stuff right now. Its frustrating. I do live in a small rural area-there is some wealth here but in general its a poor community. 

Thanks again for all your help and please share any pointers you have about getting private money or investors. 

@J Scott I am not confusing a flip vs a rental. I'm afraid we will have the appraisal problem when we sell it after its flipped (The new buyers won't get it to appraise for enough more than the original appraisal because not enough time has elapsed) This exact scenario happened to my mom and I've heard from other investors it can be a problem. One person told me you should wait at least a year but we had an issue even after a year because it was the same appraiser. 

@Larry H. I think your addition is off...if I buy for $95k pay $15k for rehab and sell for $150K I will get by an extra $40k cash (profit) when I'm done PLUS the money I spent ($95k plus rehab) because I will get $150k total ;)