All Forum Posts by: Mark Holencik

 What does that mean?

 When people ask what I do, I tell them.  I buy rental properties, and I give 8% to people that loan/invest me money. 

Do this and you will have money available.

This is where a line of credit is handy. 

You can buy without inspections. You can close fast.

When you can offer these 2 things you can buy at a discount. All my offers are "I will buy the property "As-Is". No inspection and cash. I have private individuals who hold mortgages on my properties. Sometimes they are in place by closing time. But the sale is not contingent on this.

I just bought a property that they could not sell. I negotiated owner financing. When I went to sign the agreement of sale, the lady asked me what I would give her if I paid cash. I always give more if they hold the mortgage. I tell them the price is contigent on them holding the mortgage. I gave her a price that was 1/3 lower as a cash offer. She accepted. I crossed out the sales price and the seller financing terms, initialed the changes. Signed the amended agreement. I could only do this because I have funds available.

 Looking for loopholes is the easiest way to be taken advantage of. Looking for loopholes will put you in contact with other people looking for short cuts. They will not see a problem with using you as their windfall to finance their next loophole.

Reread your children's books. I live by the philosophy in them. Three Little Pigs, The Tortoise and The Hare, The Little Engine That Could, Oh, the Places You'll Go!....

Con Artist's love people looking for loopholes.

Your Welcome.

All the time and money you will save by not having to find money is enough to give him his asking price.

The interest rate he is giving you is enough to give him his asking price

The length of time you are locked in is enough to give him his asking price. 

You have all three.

The only thing that I would worry about is his statement sheet. I would have my accountant look at the numbers and see if they jive. Unless you know the market and the area. I am not saying there is anything wrong with his numbers. A sheet like that you can make up.

I am the first one to all of my appointments. I never want anyone waiting on me. Even if we are both early.

You will learn a lot by being first.

My offer would start at 20 years. $25,000 down, 2% interest, monthly payments would be $1,138.24.

If he does not like the length of the mortgage, ask him how much he would like to get a month. 

15 years - $1,447.89

12 years - $1,758.79

10 years - $2,070.30

If you get any of these terms, I would not negotiate price.

How much does he want down. Terms are more important then price. I would give him what he wants.

Why list it if you already have interested parties?