All Forum Posts by: Mark Welp

I am looking to buy a 4 Plex through owner financing.  C Area and cash flows really well.  Not going to get any appreciation, which I am fine with.  Seller is fine with Inspection, but wants to sell with no Appraisal (as we are doing owner financing and no bank involved).  I would have to refinance at the end of the 3 year balloon.

I know there are risks with not doing an appraisal, but do a lot of people buy like this? Any easy ways to see what the value would be (obviously I can use the income approach).  Thanks for responding and assisting.

Thank you for the responses!!

Hello, I am self managing my first SFH in my area. Even though the property is only about 30 minutes from my house, I might not have the chance to drive by it on a monthly basis to just check on it. Does anybody know of any services or people who will drive by your property and just let you know that it looks fine, grass is being cut, etc.? Just curious where to start looking for this.

Thanks!

I am inheriting a lease on a rental property. Does anybody have a template for an Assignment of Lease between me, the new landlord, prior landlord and tenant? Or any website that has templates? I didn't see anything in legalzoom. Thanks!

Thank you for your responses!

Hello,

Does anybody have any best practices on collecting rent from Section 8 Tenants (the non-government part) in terms of mailing to house, PO Box, deposit at bank, etc?  Some Section 8 might not have internet or computers, so electronic rent pay may not work for them.  

Just wanted to get people's thoughts or ideas.  I really don't want to do the manual mail method.  Thanks!

Thank you Jon!

Thank you @Adam G.

That all makes a lot of sense. Thank you for the responses. Thanks

I am getting ready to close on my first rental property (SFH). I am doing a conventional loan on a 30 year fixed rate with 20% down. I have the capital and funds for the down payment, but I am looking for other ways to fund the downpayment (hard money, private lending, etc.) as I am in the buy and hold game.

Didn't know if anybody has done anything like this before just to preserve funds..hurts cash flow, but preserve some funds.  

Thanks in advance!