All Forum Posts by: Nathan Adams

@Ryan Brown

I bought a property in Burbank from a trust with seller financing deal. You need a real estate attorney, you do not need a real estate agent. You should probably hire an escrow company to set up your insurance, property taxes and mortgage payments. I am not a lawyer or tax professional, this is what I did with my seller financing deal.

@Peter Mckernan I’m in SoCal as well. Can you PM me the CPA? Thank you!!

I've purchased 4 properties with seller financing so far and it's the best way to acquire properties (IMO). You still need to correctly analyze the property based on comps...And make sure that you're getting a good deal. Your money is made when you buy the property in a lot of cases. So always carefully analyze. Use calculators here and other online spreadsheets.

You can negotiate your interest rate, term (length of loan) and down payment -- Which can all be extremely advantageous in the current economic environment. The other great thing about seller financing is no loan points or fees from lenders...Saves thousands of dollars on the purchase. Use a solid RE lawyer for your purchase.

@Justin Campbell You’re probably done with this deal… But I really like Jon Von Eschen at Stockman’s Bank in Great Falls.

@John LaBanca Thanks John. I had already gotten new gutters and sloped the ground at the base of the building. Just didn't seem to be enough. Looks like I'm going to have to dig it up and try to fix it from underneath. Thanks for the comments!

@Kenneth Garrett Would a waterproofing company be different from a foundation company? The town I invest in has about 65K people and not many available options for fixing. Trying to make it work for as little as possible, but still fix it right. Let me know if you need more info? Thanks!

@Bjorn Ahlblad Thanks so much for your suggestions. I'm getting quotes to dig it up and repair from $16K to $21K. Everyone I'm talking to says I have to dig up from the outside. Can I inject the cracks from the inside? From what I can see, the previous owner tried that and obviously it didn't work. Also, this is in a town of about 65,000 with few available contractors and foundation companies. So I'm a bit limited with my ability to get this remedied.

Happy to provide more info if it helps?

Thanks!

I bought a building, remodeled interior of building and got the rents up.... Then refinanced. I am using that money to do siding and roofing. Recently it was discovered there is a substantial horizontal crack in the foundation, which began leaking during a rainstorm into the basement unit. The quotes I’m getting for the foundation are extraordinarily high.  I wanted to get some experienced opinions about fixing foundation leaks.

I invest in Montana... Get 5-5.9% so that seems right. It depends on the market. I can only do local banks where I invest, so that's what I get. On the flip side...I'm refinancing a BRRR right now and I didn't even need an appraisal. Just make sure the loan works for your numbers.

@Mohammad Nur I have a nicer property in a better neighborhood and a properties that cash flows way more in aworse neighborhoods. And personally, the better running ones in better neighborhoods are just much easier when you have a full-time job — I also have a full-time job I really like. You really have to look at the one that will require less of your time. So my recommendation would be buy in a better neighborhood. Plus the house in a better neighborhood has a significantly better chance at appreciation.