All Forum Posts by: Nicole Dechow

We are speaking with a seller, who has 100% equity in his properties.  He is interested in seller financing so he does not get hit with taxes all at once.  The only problem he has is with the fact that we are so new to the business.  We started over the last six months have acquired 4 properties.  He said he is not sure we have the "staying power".  I would love to do seller financing but am not sure how to overcome this objection.  He thinks we are too busy having two kids and two jobs.  Any advice or ideas appreciated?

Elliot,

We are in Ephrata.  There is the Berks County  Real Estate Meet Up group and the Elevate Investing Meet Up group.  Both are great.  Download the meetup app.  Also look for the Facebook page Central PA Real Estate Investors!

Nicole

Thank you!

@Victor S. it looks like the home next door was sold to a family member from another family member for just $2k extra so that is why the price was so low.  It was never listed.  Would an appraiser be able to tell that kind of thing? Or would this still hurt our appraisal it only sold for $66k and we would want our house to appraise for $100k based on other comps.

@Fred Shatzoff the reason we would do this is to get all of our cash out so we would not be spending any money in the end.  Our house right down the block appraised for 89k and this house we would buy for around 70k.  Do you see another way to do it and get our cash out?

@Michael Noto thank you! I wasn’t sure if people ever got an appraisal as a contingency just to protect themselves.

We are looking at an off market deal a block over from a property we just purchased.  We know what our house appraised for but the thing that makes us nervous is the house next door to the new property sold for quite low and that would be a pretty decent comp (it sold in Dec 18).  We would be looking to buy the property cash and do a cash out refi immediately so we would not have to put any of our cash into the deal.  Has anyone put in an offer contingent upon an appraisal and done the appraisal before purchasing?  Thank you in advance!