All Forum Posts by: Olutomi Odukoya

Thanks Brandon.

@Taylor L. Thanks. Seems like we are along the same line of thought.

When considering acquiring a property, how old of a building will you buy? I'm trying to stay newer than 1980 so I'm far enough removed from lead pipes and asbestos. What do you guys think?

@Matthew Jordan Great advice. @Suresh Kannan I look forward to being of assistance.

@Suresh Kannan I'm a native of San Antonio. I would love to be your boots on the ground.

I'm a newbie in San Antonio. I would love to be your boots on the ground.

Investment Info:

Single-family residence buy & hold investment.

2/1 Purchased August 2020

What made you interested in investing in this type of deal?

Passion for Real Estate

How did you find this deal and how did you negotiate it?

Redfin.com

How did you finance this deal?

Conventional Investment financing (25% down)

How did you add value to the deal?

Roof, paint exterior & interior, new water heater

What was the outcome?

Occupied

Lessons learned? Challenges?

Don't let the tenant sign the lease before the rehab is done. I was excited, but then the tenant wanted to add too much input.

@Landon Bleau Thanks. S I didn't know the difference. My goal is not a land contract. Just wondering about buying a SFD from the owner. I got that I need a real estate attorney and looks like I can search for a 3rd party loan servicing company. Any other players to involve to protect my interests?

I'm more worried about the amortization of the loan. How can I get a neutral 3rd party involved to keep up with the books and ensure that I get the title once the note is paid in full?

I understand what seller financing is, but how do you set it up? Is there way to have a 3rd party keep up with the loan amorization? I'm worried about future disagreements that could arise if it is just the seller & I involved.

Thanks.