All Forum Posts by: Nick Giulioni

Being willing to outwork everyone. Most people are lazy and don't want to learn. By being willing to absorb information whenever possible an implement, you can set yourself above 95% of people out there.

Thank you for posting this story - really inspiring.

@Michael Backer Seller financing takes negotiating with the seller if they are willing to act as the bank for a set period of time. It's not something most people are willing to do - but it has allowed me really accelerate my REI.

I certainly would avoid this tenant.

I haven't had any issues with transitioning from seller financing to traditional financing. As with any transaction, have all your documentation ready to go, optimal DTI, and find an investor friendly lender. If you don't know one in your area, I'd reach out to your agent. They should be relatively well connected.

Lastly, I'd give yourself 2-3 months before refi time to start the process.  It always takes longer than you think it should!

Looks like a beautiful place! Any tenants currently in there?

How confident are you in the $200k ARV? You should be able to pull the cash out as soon as 6 months (and I probably would). By doing a refi 6 months+ you should be able to pull $140k out of the property. You get back your original 10%, $30k, and get a little bit of walking around money as well.

I can't imagine why seller financing in a live-in situation turning into a traditionally financed wouldn't work. I've converted several houses from Seller Financed to Banks over the years.

I just got 30 year 70% LTV or Purchase Price + renovation (whichever is lower).

Talk to them about delayed financing (if you are purchasing the houses without financing). Make your lender actually do some research! :)