All Forum Posts by: Steven E.

@Amberle Farthing thanks for the advice. The guy presenting the deal is a wholesaler and wants his $5k fee and move on and I'll pay the $39K for the home. They haven't given any terms at the moment, but are willing to be flexible on terms as long as I can present the $5k fee.

Hi BP Members Quick advice on rent to own investing. I was just presented with a rent to own deal and need assistance navigating the transaction to determine if it will be a good route to go. Seller is flexible with terms. 3/2 Single Family Purchase price: $39K Down Payment (Wholesaler Fee): $5K Repairs: $5-8K Area Rent: $875 ARV : $70K Tax Value: $70,500 1. Can this deal work? 2. How can I structure the deal to gain control of the property and maximize income potential? My intentions is to utilize the house as a rental property? What would you guys recommend? Any advice would be appreciated! Thank you!

Vince the REIA Club here in Greensboro is a good one to join. Deal Makers is a good one to stop by as well. If you can deals you can stop by a present your deal to the other investors or just to network. I know they usually meet at the end of the month and they often host in Winston Salem as well.

Thanks for the info guys. So far I've contacted over 7-8 lenders and either the amount I'm asking for is not enough or that I don't have enough saved. Would it be a better to get the sellers attorney to suggest a "lease option" to the seller or "subject to" in order to get this deal closed? 

do you guys know of any private money lenders that service North Carolina?

James and George thank you for the response.  I have my realtor running comps on the properties and my contractor will be going out to view the properties for rehab estimates.

I recently came across 3 properties offered by an attorney as an estate sale. Property 1 consist of 2 3br/2ba with a tax value of $74,500 with an asking price of $40,000 each but will do $70,000 for both. The next property is a 2br/1ba brick home with a  tax value of $89,000 and asking price of $41,000. I would like to keep as rentals

Questions:

1. How important is the tax value in comparison to the asking price and market value? Should it be an indicator of how much the property is worth and how much to offer?  How should it be viewed when considering investments? 

2.  What would be a good way to financially structure the deals to keep them as rental units or flip them?

Thank you in advance for your advice.

Welcome @Brian Ford. I'm new to the field as well and have already found lost of helpful information.