All Forum Posts by: Mark Schmidt

We have a paid for rental home that we would like to sell to our renters. We are interested in doing it with seller financing. We know and trust the family and have no concern about getting paid, but we know there are risks and would foreclose if necessary. We are considering amortizing it over 30 years, but with a balloon payment due in 10. We would have a promissory note drawn up, but I am not sure what else I am missing. Can we do it without going through escrow? How do you choose the interest rate? We are looking for your feedback. Thanks.

@Robert P. Would you be willing to post a picture of the grey you use?  There are so many different shades nowadays that I have trouble picking.  Thanks for sharing.  

My guess is your dealing with a clerk which will get you no where.  You either need to speak with the City Manager or someone on the City Council who have the power to change the bill.

Welcome Ken.   You might consider Fresno, Ca.  We have years worth of homes that will need to be rehabbed and flipped.

You are overpaying for a building that could easily have more problems than you know.  The cash flow is not worth the risk.

I live in Clovis, Ca and love having my rental just 2 minutes away because I enjoy being a hands on landlord. Even though it's California we still have nice homes around 200K and a really good school district.  Matter of fact, I am ready to add the next one if anyone hears of any deals in Clovis. Thanks.

Hi Cindee, 

@Cindee BrownMills   Welcome to BP.  

My old friend, Roger Harding, visited yesterday from Juneau.   Small world.

Good luck with your investing.

Mark

Interesting.  I am so focused on what I read I don't see any ads.

@Jeremy Brown   You will lose a lot of money if you don't run things like a business.  It sounds to me that you should consider hiring a PM.