All Forum Posts by: Mark Kille

I am considering making an offer to inherit an FHA loan, and the seller finance the remainder. If the approximate $140k is seller financing, are the terms of such agreement made in the real estate contract? Thank you!!

I am stronging considering buying a tri-plex in the same city I live with my wife and kids.  For this purchase, I would love to use the new 5% down on lending if the 2-4 multi-family unit is "owner occupied."  My preliminary research indicates that this might be possible (without committing fraud!) if I apply for the lending on my own.  Specifically, that husband and wife could each own their separate primary residence.  Is this too risky?  I might actually live in one unit in the tri-plex.  Or, my oldest daughter might live there too.   

Thank you gentlemen.  

What resource have you found that is the best way to monitor your credit scores without obligation, spam, and preferrably for free?

@Charles Carillo

Thank you Charles. This is very helpful. Cheers!

Last week I made an offer on a commericial office building with one tenant, a dentist, which was accepted.  We are in escrow.  The lease agreement with the seller/dentist has a Landlord Waiver attached to it.  I am not familar with such a Waiver.  It appears it will continue to be in effect once I become the new Landlord.

What is the real purpose of a Landlord Waiver?  Is it to benefit the lender more than the owner/landlord?  TIA  

@Payson Scott stay in school

I am going to form an LLC with a good friend to purchase a commercial building together. We will be filing our articles of incorporation with the Arizona corporation commission. That is the easy part. We both desire a partnership agreement to establish the terms and conditions of our new venture.

Does anyone have an exemplar you could share?

Thank you!

@Tucker Cummings 

A good investment portfolio is a diversified portfolio. Keep your 401(k)’s running. This may not be the best time for you to invest in real estate since your 401k is your only means.