All Forum Posts by: Paul Zanger

If anyone has sold a property on a land contract when there is a mortgage already in place, I need your help to advise how you avoided a "due on sale mortgage clause." I ask because my tenant is interested in buying my property on a land contract with $10k down.  The property is in Livonia, Michigan . Thanks!!

@Jerry Padilla has been very helpful in out of state cash out refi's for me.

I guess I was leaning toward private money when I used the term "Soft"... I like the term semi-soft though  :-).   I have $10k in the bank but need $26k to purchase.  My contractor has not quoted me on rehab yet but the as is current value is around $35k.   As you know $26k for a 3-bed, 1-bath with basement in Oak Park is a great deal right now.

I am looking to either refi and hold or flip within 3 to 6 months.   Any interest in helping finance the deal?

I have a great deal on a 3-bed, 1-bath, 960sf bungalow with basement for $26k in Oak Park, Mi.   My finance partner does not loan for less than $50k.  Can anyone either help me or advise of someone who can?  Thanks much! 

Hey Jim,

Good timing... I have a deal I'm wholesaling currently in Redford, MI.  Purchase price is $34k total to you.  It is a 3-bed, 1-bath, 1,000 sf vinyl bungalow with a basement.  Newer roof, siding, windows, and cement.  This is a probate deal that is assignable.  Needs about $5k in repairs/updates (I have a copy of the city inspection report)... should rent for $825.  PM me if interested.  FYI - I am a full service wholesaler.  Thanks for your consideration!  Paul

I found a sitter and plan to be there.  Looking forward to meeting everyone.

Thanks for all your quick replies! I just talked with my mom and she is fine with helping me. Thanks mom! I thought $150 seemed out of line but just needed to hear it from the group.

I have a Section 8 renter and my current mgmt company emailed me that the Dept of Housing is asking if I plan to increase the rent. I wanted to find out how well the tenants are taking care of the place before I decide and asked if they could do an inspection. They said they charge $150 to inspect and would provide pictures along with a report.

They also said I am welcome to do a walk through. I am out of state but my mom lives near the rental. How should I handle as I would like to know how well the place is being taken care of... should I just hire my mom to take a look or should I use mgmt co? Thanks in advance for your input!