All Forum Posts by: Melissa Moore

@Mark S. Here is part of my rental contracts that has wording for yard maintenance. It is placed under the Property Management Section with the box checked for: Tenant, at Tenant's expense, will maintain the yard.

I have Section 8 renters and they mow the yard, and maintain it-it's in the rental contract I used.

There isn't a sprinkler system so they need to water it too. Haven't had any problems other than with tenants that have med-large dogs that made tracks around the yard where they tread, plus grass burn from their urine. I suggest a no pet policy.

BTW I leave a lawn mower in garage for tenants to use, if they don't have one. ( They probably won't go out and buy one right away after forking over the limited cash they have for deposit) You can find deals on mowers at garage sales & Wal-mart is good too for a low cost mower.

@Shane Wilson Here is the other house that is 3 bedroom for 66k, would rent 1k. Heard there is an offer with inspection already on it now, so it is a maybe...

@Shane Wilson I plan on living in the house for 1 year, then renting it out for the going rate of $1k a month in the area.

Main goal is to have cash flow eventually when I move out + have renters pay home off over short timeframe. Would like to buy again in 2015 for home #3.

Recently I found another house for 50k and rents for 700 a month and it is a 2 bedroom. Sellers would also consider financing. Taxes are 1200.00 year. Downside is the house is oil heat I believe, plus hoarder rents home and is moving out end of month (may leave some piles of stuff behind ?!?)

@Adam Johnson Thank you for letting me know I can negotiate with the seller like any other deal! Found other perks seller will have since the house is being rented by a hoarder will have to come up with costs of dumpsters too.

Seller wouldn't have to clean out the hoard lol

Brian Gibbons your link and tip are very helpful! Thank you for sharing!

Hello All !

I found a charming home and know the owner lives out of state. According to the records bought the home for 44k and is selling for 66k and offering to carry the contract.

This would be my first seller finance deal. Here are the few questions I have been researching:

1.) What tips / pitfalls + avoid at all costs advice would you offer?

2.) Can you negotiate on price with seller financing? if yes, tips?

3.) How much money do you put down?

4.) How is the amount of monthly payments decided? and the end term?

Thank you in advance for your time to respond!

PS. if you have a link to your blog article about this topic, or know of a website that answers these questions please feel free to share too!

Hi Eric!

I am also new-and absorbing all the great info here at Biggerpockets. Right now I am looking for my deal #2 in WA state. Would love to learn more about financing rental properties...