All Forum Posts by: Justin Paul

What an amazing amount of brain storming and info. You gotta love BP!

@ Jon-Thanks for clearing the refi up. So your saying it would be easier to get a "rate and term refi" to pay everything off. So if this happen I basically would have no equity in the property but would have only one loan and it would be a long term right loan correct?

@ Jeff-What your talking about is what I was thinking about. Find a free and clear property with a owner willing to carry, or the same senerio but with a small amount of debt left in it. Then try and get the rest of financing through a hard money lender or private investor correct? That would leave me over leavage tho right?? Because of the 100% financing plus the interst to both the seller and private money right?

Thanks alot guys for all the insight, I love this site. @ Will-My strategy I was thinking about in a case like this was to somehow get 100% financing, raise rents slighty and reduce expense forcing more cashflow and the property's overall value. Then say 2 years down the road refi cash out, pay the seller and the 2nd loan off...but thats all just brain storming/asking and learning at the moment.

Ok first, is it rare for a seller to finance 100% of the deal? (I think yes but wanted to see what your input was and if you guys have heard of seller doing so) My second question is say an owner will finance 70% of the deal but you don't have the 30% to put down. What could be good options for getting the 30% besides of course saving up the money? I was thinking hard money? Paying the higher interst rate on the 30% then refi and cash out the seller and the hard money loan.

Would that be possible? Is there any other options or strategies you could use to get a deal like this done?

Oh I just thought of something, could a buyer ask for 100% financing and for the 100%pay 10-15% more then the asking price to get the deal done?

I'm just begining and trying to learn as much as I can. I'd like to do owner financing deals as my niche. It seems to have great upside.

Just bouncing ideas around here. What if someone with a soild deal gets a hard money loan or a loan in general for the remaining balance of a owner financing deal and moves the loan to the 1st position and the owner finance to the 2nd? Could is happen? If so would you be able to refi and cash out the seller and the loan amount with a new loan a couple years down the road?

I know it's alot to ask, just brain storming

Hey Dave, no I don't think there will be any more to this story ha. I think the debt is just to high to work with at the moment. I'm very interested in owner financing. My hopes are that there are profitable O.F. deals out there.

Thanks Chris for the good info, I'll definitely take all that into consideration.

I'm looking for some people that have done some multi family owner financing deals. I'm looking at a property but after I saw the real numbers it looks like the property is over leveraged with loans. The rents are right at market rates as well. Is there any ways to make this a profitable deal using owner financing?

Thanks Max I'll be looking into all of that

I'm waiting to hear back from them on some more info. I used the 55% rule to cover all expenses. Do you think that a big enough %?

Price:$1,200,000No.

Spaces:152Price/Space:$7,894.74Property

Type:MultifamilyProperty Sub-type:Mobile Home/ RV

CommunityProperty Use Type:Investment

Cap Rate:18%

Year Built:2003Lot Size:7.96 AC

How over priced do you think this property really is?