All Forum Posts by: Paul Lim

Hi everyone, does anyone have experience with small, investor-friendly banks in the Asheville, NC area.  Was hoping to build a relationship for funding deals.  Appreciate your help!

thanks @Brian Orr!

@Rich Jones thanks!

Hi everyone - looking for a lawyer in NC who is familiar with real estate investing to review a few contracts and provide operating agreements.  

Also wondering what company you recommend for opening up LPs/LLCs with anonymity.  I've found a few online agents (northwest/legal zoom) but found they were not knowledgeable about setting up with anonymity and LPs.  

Appreciate the help!

@Marco Bario, @Andrew Garcia and @Luther Wilson III thanks for the insights.  What you've shared clarifies my limits with the seller.  

For my situation, it comes down to the interest rate...realizing that my proposed lower interest rate is not unreasonable gives me added assurance going into the deal.  Thanks everyone...BP community is fire!

Thanks for the inputs @Andrew Garcia.  I will definitely consider the loan.  

I wonder what approach one would take to figure out a good purchase price - is 85% of market value a common starting point? 

I've come across a seller financing deal for a successful Airbnb vacation rental.  The Airbnb is located in a good cottage area ~30 min from a larger city.  This would be my first seller financing op.  

The seller is seeking ~30% down and ~$50k over market value for the house.  It seems he/she is more interested in a decent upfront down payment vs. monthly income so I was thinking about offering 25-30% down but for a lower interest rate of 3%, and a 5-10yr balloon (as long as possible).  

My understanding is that typical seller financing deals should offer 85% of ARV. Would it be reasonable to offer 85% ARV, 30% down and 3% interest? COCr can only work with lower interest rates. Would love to hear from and connect with someone with experience in this arena.