All Forum Posts by: Matthew Yrungaray

Thanks @J Scott , @Bill Gulley , @Andy Luck , @Brian P. and @Brian Gibbons for the help.

It sounds like we just need to put it to the banks and see if he can qualify. Ill keep you updated.

Can a seller that agrees with me to sell "subject to" get a new mortgage right away to buy a new house. If I provide a letter stating that I was covering the mortgage, would the seller be able to turn around and buy another home?

My seller has 2 condos. One is under water and the other is above water. The 2 condos in combination have positive equity before selling costs. He is very motivated to get rid of those and buy a bigger home for his family. I was considering offering a "subject to" deal for both and then turning around and selling them via lease option. My biggest question is, Can the seller buy a new home with the sub-2 in place?

Thanks all

Creditkarma.com has been useful for me. Its free and has calculators that can help you estimate your score based on certain actions. Good luck

Thanks for the replies Jake and Mike H. The sellers are getting older and are tired of managing the rentals, especially the wife. I believe that they own the properties outright. I know at least one of the SFR is a dog in a war zone and they also they have a Son in one of the rentals.

Mike H., I like the idea of a commercial loan but I don't have the cash to qualify. I like the idea of buying half and having then seller finance the rest of the portfolio. I was originally thinking about seller financing the whole with an agreement to buy one or two properties each year.

I am looking at approaching a couple that owns a dozen or so investment properties. The wife wants to sell and the husband is unsure. I was trying to come up with a scenario that would be a win-win for both parties. I was thinking that we could offer them guaranteed income in exchange for their interest in the properties. I was thinking that a sale might be a harmful taxable event for them. As well as them may have a hard time replacing the income with traditional investment methods. How might we structure an agreement that would give them income, help them get favorable tax treatment and help us acquire more properties? Thanks for any insights

Matt

@Blake Capson Welcome! The podcasts are great and the current and past forums are deep with knowledge. Ask away, we all benefit from the discussions.

Josh, I have been waiting and hoping for an android app for some time. The trend is android. Maybe a paid app could make it happen sooner than later...? Cheers

Jess, no we didn't buy the property. Cap rate and cash flow is to tight. The risks overwhelm the potential rewards

Interesting topic, How to other resort towns handle vacancy? Colorado ski towns? Tahoe? Vermont?

I have friends that are selling in Bear Lake, UT (a lake town) and during the summer months, its full but the winter months it is vacant except for the holiday weekends. Between HOA and property management, margins are slim.

Thanks Wendy & Johnny, Its great to have others give honest feedback. I love how BP is like having an investment "big brother". Thanks for having my back.

It seems as though we are in bubble territory in many markets right now.

What I'm reminded of: " don't be a motivated buyer"

Thanks all!