All Forum Posts by: Ray Browning

Purchase Price: $200k
Down Payment: $10k
Loan Amount: $190k
Loan Term: 30 years
Interest Rate: 7.75%
Payment: $1227.00 (Interest Only)
Balloon of $190k due whenever you desire per terms of your purchase contract.

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So if i do a interest only 5 year loan with the stats written above, with a balloon on the remaining balance. What is the balance after 5 years? I hope the balance is still not 190k after 5 years of payment.

ps, i just want 5% to 10% down payment.

thanks for trying

Eddie, i have already stated that i tried the balloon payment calculator, i did a 5 year or even a 30 year deal and its still comes out negative. So i don't think this is correct.

How do you do a deal for 13 cents on a dollar? Where did you find a deal like that?

[b]

Jon. Can you do a subject deal and then ask the seller to lower the amount of the loan? I thought when you do a subject to deal, all you do is take over the payment? Can the loan amount be negotiable?

Its free and clear, the home is Fully paid.

In all honestly, i don't know how to finance this deal. I am asking "you" the audience for advice. I can't do a ballon payment, the more the Potention buyer pays, the more he owes. Its crazy.

I tried a ballon payment calculator, and the numbers don't make sense, unless i ask the buyer to pay more monthly payment, but i don't want to do that in this bad economy.

http://www.mycalculators.com/ca/loancalculatorballoonm.html

Don't mention craigslist, too many adds, and no responses. As soon as you post, your listing goes at the bottom of the page.

Can somene recommend a website for listing. I thought about realtor.com but i don't know how successful they are with rentals, i know they are good for selling, but i am not sure about renting.

I thought about the local paper, but i am not sure if anyone reads the paper anymore, the classified section is non-existant.

Any advice would be appreciated.

I have a property that i want to only Rent or sell with owner financing. There is one issue. Because the price of the property has gone down, if i do owner financing it, it creates a Negative amortization.

The property was worth 250k, now its worth 180k, the price on the property has gone down because of the economy.

The rent use to be 1800 dollars a month when it was rented, now the rent is going for 1300-1400 dollars a month.

If i decide to sell and do owner financing, I want to sell the house for 200k with 8% intererst. I want to ask for 1200 dollars a month in monthly payment instead of $1550 that shows on the amoritazation chart. I am offering less monthly payment so the buyer can be able to afford the rent in this bad economy.

Can I offer less in rent than what the 30 year amoritization shows?

What type of loan do i offer the buyer? I thought about lease option, balloon payment. I just want to do a deal where it doesn't become a Negative amortization for the buyer.

I have a property that i want to only Rent or sell with owner financing. There is one issue. Because the price of the property has gone down, if i do owner financing it, it creates a Negative amortization.

The property was worth 250k, now its worth 180k, the price on the property has gone down because of the economy.

The rent use to be 1800 dollars a month when it was rented, now the rent is going for 1300-1400 dollars a month.

If i decide to sell and do owner financing, I want to sell the house for 200k with 8% intererst. I want to ask for 1200 dollars a month in monthly payment instead of $1550 that shows on the amoritazation chart. I am offering less monthly payment so the buyer can be able to afford the rent in this bad economy.

Can I offer less in rent than what the 30 year amoritization shows?

What type of loan do i offer the buyer? I thought about lease option, balloon payment. I just want to do a deal where it doesn't become a Negative amortization for the buyer.