All Forum Posts by: Shari Bertsch

I've done a number of deals in Independence, and I'm in Nevada. I've had good success with First United Title Agency, LLC. They've got a number of locations. I'd recommend LeAnn Pontalion, First United Title Agency LLC. 17000 E 40 Highway Suite 1, Independence, MO 64055

Almost a month later and I have to echo Aaron Brown's comments above. I'm still going full time at it in spite of the crazy seller's market. Wound up purchasing two of my last three properties from wholesalers, and those I credit to my agent's relationship with them. She's a huge help, and while she knows she'll be selling the property on the back end of the deal, I still offer her a referral fee for all the hard work. 

Thanks for the Ordinance update. One possibility I'm considering while riding out the current market condition, is to just buy, repair, rent & refinance, for properties that don't have the spread I'd need to flip, or sell with owner financing.  Good to know in advance. 

@Leather Nix, one thing I don't see mentioned on this thread, is that a single owner finance deal shouldn't be as onerous as you may think. It's my understanding that until you do three deals in a twelve month period, you are not actually bound by Dodd Frank. I see that you are in TX, and if your deal is there as well, there's a great underwriter that can keep you compliant. I use Texas Pride Lending on any TX deal, not only for compliance, but to vet the borrower which is totally in your best interest anyway. 

Actually, if this is your first owner financing deal this year you should be alright without an RMLO underwriting. 'Small Lenders' get a bye on the first three deals. HOWEVER, if you are looking to sell the note is advisable to have the loan application and the buyer and loan at least qualified by a licensed professional. We owner financed a deal in TN in Dec, and have in fact sold the note. The problem was after much searching I could not find someone in TN to do the actual underwriting. 

I went to our TX underwriter, Texas Pride Lending, to complete the application process and write us up a full underwriters package and am very glad we did. Sarah Montes would be the person to contact as Texas Pride. She is also on Bigger Pockets so you can probably reach out to her here Sarah Montes

Actually my IRA (and my husband's as well) is a big part of our strategy. You can invest in real estate, within your IRA account, again something best discussed with a great accountant. We moved our IRAs to American IRA, which is a self directed IRA custodian. Quicker profit deals, like flips which would be short term capital gains, aka high tax rate, we do within the IRA. Ours are traditional, so there's no tax implication until we take dispursments. Longer term deals like rentals, we do in an LLC. There are a ton of ways to invest in real estate. That's what makes it fun :)

Looks like a lot of good responses here, but I couldn't resist adding to the run away as fast as your little feet will carry you sentiment.

We didn't even begin thinking about re investing until 4 years ago... when I was 58. Did some higher end flipping, and then moved to smaller properties & markets, selling with financing, and either keeping or selling the notes. Now building a rental portfolio for diversification and future wealth. No matter how much you saved before retirement, it's nice to know you'll always be able to make money with your money... and that's where real estate is king.  

Just stay away from the Gurus-De-Jour who tell you you can become an investor with none of your own money. Go find a really great accountant that gets real estate investing and pay attention to him/her.  

Looking beyond Zillow, Craigslist, et to sell our Seller Financed properties. Been doing well but would like to streamline and make our showings easier, as we are out of market investors, currently in MO, TX and TN. 

Would REALLY love to get feedback from those in the know. 

Thanks advance!

 Would love to get his contact info if you don't mind.  I'll send you an email. Thanks!

 Would you recommend seller finance vs renting as viable in these sub 50K markets?