All Forum Posts by: Nilo Gabales Samson

hello bp community. good day. i just have a question. is it possible to buy a house with owner financing when the property has a mortgage on it. ( not an over leverage house) its a debt with equity property, because in our area one of my friends said that if a house has a mortgage on a bank and the property was sold to another buyer, the bank may trigger the due on sale clause and may foreclosed the house if they will know about this trans. im just a little bit confused guys. any help from anyone is much appreciated. Im just a newbie. thanks for understanding. 

Hello BP community. Whats your input about Free and clear houses? i found a free and clear house near our neighborhood and as a newbie going to start my first deal I dont have any idea whats better if i buy it with owner financing or should i lease option this property. Any of your comments is much appreciated. thanks guys.

Good day BP community. just want to ask if where can I find information or what documents should I look for if I want to know what is the vacancy rate of a particular city? thanks for your future replies

ah yes, i do understand now. i ask the wrong question. sorry guys. it was an over leverage house, it owed more than its worth obviously, my plan was to lease it over time maybe 5 years or 10 years for what it owes and probably my exit strategy is to assigned my contract to another tenant/buyer. Can you give an advise guys. thank you so much @Jake Thomas @Brent Coombs

Good day Biggerpockets community. Newbie here, still learning. I would like to ask what document should i ask from the seller of the property about the exact mortgage of the house, so that I would have some basis to make my offer to the seller? thanks for the future replies.

@David Stone i really need to see an attorney, thanks for your info. yes indeed fear is there in starting everything but im also excited. by the way can you suggest something some formats of this contract to download so that i would have some basis to make my own contract? 

hello biggerpockets community. i would like to purchase a house but the owner agreed on a lease purchase with a 3 year balloon. so my plan is to sublease the property to another tenant buyer at a higher price, my plan is to tell the owner that i need to find my tenant buyer that we might both agreed first before making the monthly payments. My question is that, do i have a time allowance to find my tenant buyer before executing our deal? what if it took me a couple of months to find the right tenant/buyer. will our contract be void? is the owner even though we have a deal can breach it and offer it to another buyer? how can i protect myself from buyers that will go directly to the owner and remove me as the middle man?? your reply for these questions will really enlighten me about my doubts for my first deal. thanks by the way. :) 

@Michael Clanton thanks for the information, it really helps me to have an idea how to make an estimate of the ARV of the house since it would give me a good decision in giving the estimate value of the property for a greater profit. thanks also for suggesting the links. i will read it now. i was also thinking that if i hire an appraiser to do this job at my first deal would cost me a lot than my profit. :) thank you again sir

hello biggerpockets community. newbie here.. just want to ask if how would i estimate the ARV of a particular property? is there any checklist i should consider to find out the ARV? any calculations as well?? your replies would really help me. thanks guys..

thank you so much for all of the information @Luc Boiron @Account Closed, this helps me so much.