All Forum Posts by: Nick Mazzarese

@Franklin Romine

appreciate the info Frank.  what is the reason you started into seller financing int he first place?  was it because debt to income ration was too high and the bank wouldn't give out further loans......

also, how are the interest only payments a write-off?  how does that work?

thanks again for your input.  This is a new subject to me do doing my best to wrap my head around this whole seller financing strategy.

@Franklin Romine

why do you do interest only payments?   after the 3-5 year term do you have a balloon payment where you pay off your debt to the seller?  

Hello BP,

can you someone provide an example for how they would go about structuring a seller financing deal on a free & clear property?  

Liz - you can use contingency clauses such as "ability to close is contingent upon funders approval" or "ability to close is subject to inspection.".  This will not leave you on the hook for the property if you cannot find an end buyer.   

Lately, I like US Leads List .  Lance and Terry pick up their phone every time you call and are very helpful and responsive.  They provide primarily inheritance lists and limit the amount of people that buy lists in each county to 3 to limit competiton.

@Julio Soto 

For. Traditional wholesale deals I would recommend a title company.  Simply call up your local title company and ask if they do contract assignments or double escrows.  If they say no, call the next one. I find tHat the smaller mom and pop title companies are a bit more investor friendly. 

@Brian Gibbons

I have been coming across a lot of low equity deals where seller wants full market price therefore I have been considering lease option assignments as well. 

My question is how do you position yourself to the seller:

Do you position yourself to the seller as the person that would be moving into the house on lease option?  Or do you let them know you will be assigning your terms to another tenant buyer?

Also, to whom does the T/B pay their rent check too? 

@Eugene Harris I work in New Jersey as well with a focus on wholesaling. Not sure where you are located but check out the South Jersey REI group which meets in Cherry Hill .

@james wise. When would it make sense to set up an LLC?

hello BP,

I am preparing to purchase my first investment property which I plan on living In one of the units and renting out the others.  Something along the lines of a duplex/tri-plex is what I am leaning towards.  

I was was wondering if there were any benefits to purchasing this property under a business name/LLC knowing that I would like to purchase more rental properties in the future? Also, I recently wholesaled my first property so this has also got me thinking about creating an LLC or other type of business entity.

Can someone educate me on when / when not to create a business entity and what the benefits might be?