All Forum Posts by: Onan Dumas

I've already message James Mudd but I will post here to give a head count. You can bet I will be there!! See you guys in a few hours!

Ned Carey Thanks for your response Ned! I will make sure to consider then when I make the offer to the seller...So how does it work as far as options on payments...I have heard principal only and interest only, deferred etc...how does this work if say they were to finance the asking price (not saying I will give it at asking price but for this sake lets calculate the 475k)...

I'm sorry folks, 11 month old daughter loves my laptop and accidently posted the topic when she was slamming the keyboard! Anyway!

I was hoping some seasoned investors could help me here.

There is a fourplex property that is for sale at 475,000 asking price here in Dallas and I am wanting to owner occupy it. The sellers own the place free and clear from my understanding and are wanting to get out of it because they are older and are tired landlords. They also just inherited their deceased parents and it sounded from talking to them that its just time to move on although they loved the property...Long story short! I was told by the bank that I did not have strong enough rental history, they wanted more to show in my bank account etc etc etc, basically a NO! until I get more money in my bank accounts...I was going to do FHA 3.5% down but becuase I already own a home they want cash reserves from the old and new house for 6 months of old and 3 months of new, which i don't have!

How would I approach this seller on owner financing and see if they we can come to an agreement. What works best in your deals as far as seller financing especially on a fourplex like this?

I can answer any questions you have to further clarify this purchase!

Thanks again!

Hi BP I hope everyone is having a good day and a better week!

I am brand new to all of this and am a little overwhelmed by what the Real Estate world has to offer so I am hoping some seasoned investors are K

Thanks Harry M.!

Hey Ryan Enos
Thanks for the response and the colleague request, it definitely feels grea to already make a contact in the Dallas area and that was just from my intro post!

James Vermillion Thanks for the vote of confidence I hope to learn alot here and I will be posting a profile picture soon as well!

Hey everyone, my name is Onan Dumas and I am completely new to BP and real estate in general. I am excited about joining this community after stumbling onto here from Brandon Turner's old blog realestateinyourtwenties.com. Everyone here seems to be helpful and seems to be concerned with 2 things, helping everyone be happy and make money! This sounds like my kind of community lol. I am hoping that I can gain knowledge and get out of the analysis paralysis fear and get connected with wholesalers and investors through here! I'm looking forward to meeting everyone here!