All Forum Posts by: Qulia Brunson

I thought I'd be free tonight but circumstances have changed that.  I'll be at the next meeting for sure. 

I'll be there!  Looking forward to it.

For me consistency goes a long way.  I know that engaging in more forum discussions and sending mail campaigns on a set 6 week schedule, in addition to other things will help my business.  Therefore, my plan is to discipline myself with consistency in order to get the results I want this year. 

Wow Jesse T. That's an eye opener, i didn't think about his net amount. And you did bring up a good point with the exit strategy.  I may keep it long term or do a lease to own with the tenants. Im leaning towards lease to own therefore I do need to think in terms of my exit and not easy financing. The Jan 2015 minimum IRS rates are 1.75% does this sound right or am I looking at the wrong rates? 

Thanks

Thanks Curt Davis for your insight.  He didn't have a specific down payment amount so I can start at 0 down. He did mention that he'd like a 5 year payoff because of his age I'm open to this but we'd definitely have to agree on 30 yr amortization.  I'll keep you updated on our agreement! Thanks again

Good Day fellow BPers,

My expired listing marketing is starting to pay off. I met with a couple yesterday who received my post cards from my expired listing campaign. The house is a family home that has been in the family since it was built in 1908. I say that to say it has alot of love in it and not much work is needed besides from an eyeball inspection. So here are the numbers I'm working with:

3bed/2ba 

1900+ Sq ft

Tax value $72500

Asking price $50000

Market rent $700-$800

Owner is willing to finance but wants original asking price from listing which was $57,100. I'm looking to add this to my rental portfolio but this is the first time a homeowner has been willing to finance. 

 So my question is what would you offer this owner,  for those experienced in owner financing? Also, please advise if any additional clauses should be included in the contract. I'm trying to make this deal a win for all parties involved. 

A short sale is approved by the bank when the owners owe more than what the property is worth. For example if your numbers were reversed, ARV $120k and the UPB $333k, you would have a short sale. This is a deal that you could do successfully without a realtor as long as you and the seller agree on the price.

A short sale is approved by the bank when the owners owe more than what the property is worth. For example if your numbers were reversed, ARV $120k and the UPB $333k, you would have a short sale. This is a deal that you could do successfully without a realtor as long as you and the seller agree on the price.

 Thanks Roland,

Would you also suggest an individual contract for each property?

Hello fellow BPers,

I am a wholesale investor and I recently came across a 15 property wholesale deal. I've never wholesaled more than 2 properties together so I'm looking for a little advice on how to make an offer on bulk deals, as well as any data a potential buyer may need other than what I have listed below.

Asking Price: $916,500

Annual Rents: $118,200

Annual Taxes: $17,900

The seller will also consider owner financing for the properties with 5%-10% down and 8% interest rates. To me the down payment seems reasonable but is this a high interest rate for owner financing?

Thanks in advance for your knowledge and advice!!