All Forum Posts by: Patricia Joseph

Hey @Marvin McTaw you mind sharing the info for the Bigger Pockets meetup? Thanks

@Leonard Nisay

Welcome to BP! As a newbie, this is the place to be for learning about REI. I joined BP not too long ago and have learned a lot. During this time, I've learned that it's best to find a niche and stick with that because the wealth of information can get overwhelming. With that said, buckle in and enjoy the ride!

@Steve Vaughan I'm so glad you responded! I've read many of your posts and value your opinion and recommendations. The "box of chocolates" was referring to not knowing the real reasons why the seller is offering financing and a loan assumption. If you don't mind, I will send you a PM with more details.

Hey BP,

My husband and I are looking into using creative financing strategies, such as seller-financing for investing in small, multifamily properties. While this strategy seems enticing, it also is a little intimidating. It's almost like getting a box of chocolates and not knowing what you'll get.

How would we go about protecting ourselves if we found a property with seller financing and it's an assumable loan. Can we negotiate downpayment and terms? When we find a property like this, should we run for the hills? Would love to get your thoughts and recommendations.

@Okeoma M.Congratulations! As a wife, mother, and full-time employee, I'm very inspired by your success! In the near future, I too hope to add "investor" to my list. Way to go!

@Mark Nolancan you explain what is a non-recourse loan?

@Matt Miller Thanks for the list of RE productivity tools. I'm a geek at heart and always on the lookout for any technology to simplify my life. Since I'm new to REI, I'll probably start with the apps that will help me to analyze deals.

Ankith Chandra Is the 6 months mortgage payments in reserves required for all investment property buys? If that's the case, it may take me quite awhile to buy a property. Can someone clarify please?

@Kevin RoachI had the same question; glad you asked.

Has anyone used peer-to-peer lending from sources such as: Prosper or Lending Club, for your down-payment? If so, how did it work out and would you borrow from these lenders again?

@KevinDarrell My husband and I are also thinking of using our 401Ks as down payment for our first investment property; especially, since we'll pay ourselves back and only have to pay a small processing fee to withdraw funds.

@Michael Walton Not bad for your first investment property! I wish you much continued success!