All Forum Posts by: Michael White

Hi Guys

Does anyone know of any software that would help me identify individuals with investment properties who can be targeted for a new mailing campaign?

Thanks

Hi guys,

wondering about the viability of this strategy as a way to get onto the housing ladder and whether it is being done anywhere?

Where I live in LA, the barriers to entry for traditional home ownership are higher (20%) down. Of course you have the option to get FHA, but with that comes the upfront lump sum and the private mortgage insurance.

With regards to duplexes, instead of plumping for FHA, would it be possible to create a situation where an investor stumps up the money for a downpayment and then gets a pre-negotiated rate. For example.

Investor lends 100k for the purchase of a 500k duplex.

Homeowner lives in one property and rents out the second property for 1500 a month.

Pays the investor 834 a month (10,008 annually) and keeps the remaining 666 from the income property.

The investor is getting a 10% roi while the prospective owner is getting some income from the rental property, access to the housing market (and as such all of the associated tax benefits) and doesn't have to pay mortgage insurance.

Of course there would need to be some sort of security and the lender could have their name on the deed? There would also need to be an agreed time period for the investment (for example 5-10 years). After this time, the owner would have obtained enough equity to refinance and repay the investor.

Would appreciate people's thoughts?

Hi guys

Wondering if anyone knows a company who print and mail letters to prospective sellers. I have a database of circa 450 names in excel and want to mail merge them into letters but don't obviously want to have to print all of them out individually and do the envelopes etc. manually.

Thanks in advance

Hi guys,

wondering about the viability of this strategy as a way to get onto the housing ladder and whether it is being done anywhere?

Where I live in LA, the barriers to entry for traditional home ownership are higher (20%) down. Of course you have the option to get FHA, but with that comes the upfront lump sum and the private mortgage insurance.

With regards to duplexes, instead of plumping for FHA, would it be possible to create a situation where an investor stumps up the money for a downpayment and then gets a pre-negotiated rate. For example.

Investor lends 100k for the purchase of a 500k duplex.

Homeowner lives in one property and rents out the second property for 1500 a month.

Pays the investor 834 a month (10,008 annually) and keeps the remaining 666 from the income property.

The investor is getting a 10% roi while the prospective owner is getting some income from the rental property, access to the housing market (and as such all of the associated tax benefits) and doesn't have to pay mortgage insurance.

Of course there would need to be some sort of security and the lender could have their name on the deed? There would also need to be an agreed time period for the investment (for example 5-10 years). After this time, the owner would have obtained enough equity to refinance and repay the investor.

Would appreciate people's thoughts?

Thanks Brian - still a bit lost though as can't find anything that directly answers my question

Are there any typical minimum terms that those providing seller finance impose on the buyer? Surely as the whole point of selling financing is to obtain a long term steady income, it wouldn't be in the interest of the seller to allow the buyer to rehab a property and sell it fairly quickly?

Input appreciate. Thanks

@Jennifer Lee - this is hypothetical, but would be for buy and hold.

I assume you mean you can build unpermitted and rent out half?

Thanks

Hi 

Wondering if anyone could share their knowledge of how easy it is to convert a single family property into a duplex - from a zoning perspective etc. (specifically California)?

Cheers for the input people

Thanks guys - just thinking medium term strategy re potentially purchasing a multi-family with FHA loan next year as first property and as mentioned, it appears the last relatively affordable area.