All Forum Posts by: Nicholas DiSanti

@Jeremy Taggart Yes, positive about having to 'live there' for the lender to allow assumption of the mortgage. 

If going the subject to route, does the lender even need to be notified? Eg. we make the payments to the seller, transfer the title, and create a private agreement with the seller?

@Jason Wray Thanks for the response - this is a portfolio add to my partner and I's holding LLC. I actually like the suggestion you gave for the second home, I just don't know how I would swing it since we're targeting it as an add the the investment holding company as opposed to a solo purchase for myself.

I'm also not sure what requirements look like for using it as a 'second home,' as I'd never be there and almost certainly rent it immediately. 

It's a 30 year @ 3.5%, with great turn ket cash flow, hence why I'm trying to make it work. 

To all my creative finance aficionados, I have a situation...

I have a potential off-market deal in my hometown of Pittsburgh. A woman is moving out of her home but has only owner it for about 2 years. She doesn't want to list it and sell it traditionally because of fees.

She is offering a deal to assume the loan, and it is assumable, but the problem is, it's FHA. They require the person assuming the loan to live there.

Anyone have any ideas on how I can get this deal done with low / no money down? 

Thanks!

These are super minor issues - credits credits credits if you ask me. Reduce your cash to close, and fix the things that are pressing. 

If the listed concerns are as bad as it gets, I'd hardly classify the work as shoddy. Just seems like the electrician wasn't an electrician, lol

A - in my opinion. Build equity over time and take advantage of tax write offs and appreciation. 

3-400 a month on a 70k investment is a 5-6% cash on cash return - you can get that in a high yield savings right now, and, that's objectively a lot of cash to shell out. 

Yes, 0 cash flow is a negative CoC return, but, if you're just paying costs to close the loan, you keep all your cash and put it somewhere else.