All Forum Posts by: Reece O.

Sorry, but does it make what easier or harder? You get access to the MLS and eliminate closing costs; however, keep in mind the expenses of having your license.

Hello, That gives me a couple more questions: 1. A sanwich lease is me renting from someone and renting to someone else at a markup; is this what you mean? What do you mean by buy option? Do you mean more like - I rent property at ($500, I do this rent to own with no money down (if possible), I rent out the property to someone else for $500, After a year or two, renter leaves property and I purchase less $6k or $12k (1/2yr) 2. What is the difference in subletting and a sanwich lease? 3. Hard money seems risky... Could I refinance a hard money loan before the end of the term? Would it be better to cash out refi my first property to pay the lender? If I were to do this, wouldn't it be better to skip the hard money lender and just cash out refi? I still really like the idea of owner financing; but with only $250 to allocate monthly the deal would have to be really good and the low purchase price would be hard enough to come by in my area without needing $10k-$20k in repairs. I haven't given whole selling much of a thought, I will look into this. Any good books on this? Thanks!

Hello, Thank you everyone for the replies. Sorry I did not give enough information! I am a young buy and hold investor. I own one property, a 4/1 in Bardstown, Kentucky. I owe $55k and it appraises $90k. I cannot easily get a job... I am disabled after a car accident took my vision in 2013. My goal long term is to be able to fully live off my passive income instead of my disability check. I've always been interested in REI and there's no reason to let blindness hold me back; it actually can help me evaluate deals objectively (there is no "oh, pretty house!", only "that's a good deal!") I have $250 I could allocate safely each month. What I mean by this is: asssuming total vacancy I could pay my mortgages. One thing that can help is I get assistance paying property taxes (up to around $36k) with me living on the property. As far as I know, this would still apply with a partner and could be enticing. I would like to go into multifamily and this would be an added benefit. What sort of crowd funding services do you mean? Can you give an example? Here's some average prices and rents in my county: C Neighborhood - Home (2/1 or 3/1): $40k-$60k @ $400-$550/mo B Neighborhood - Home (3/1 or 3/2+) $65k-$100k @ $550-$750/mo I did come across two noteworthy properties possibly for context: C Class Duplex - $85k @ $1000 ($500/each A Class Duplex - $120k @ $1100/mo - One Unit of 2! ------ Partner? Seller finance? Cash out refi if possible with debt:income? I am determined to accomplish this... Just haven't figured how, yet. Open to any suggestions. Thank you!

Hello, I would greatly appreciate if any of you can offer suggestions. If you had: -700+ FICO -Up to $7,500 to put down -Low income (assume no bank will lend due to debt to income) What would you do? I feel that my only options or seller financing with a low monthly payment or partnering and contributing my down payment with an obligation of a low monthly payment, any other options I am missing? To give more context: I could allocate or contriute $250/mo. Thank you for your time.

Hello, I have some questions about seller financing. Thank you for any help you can provide. 1. With this deal even be possible to structure: (not including taxes and insurance) I would like the seller to carry a loan with $5,000 down and $250/mo over 30 years. What kind of interest rates can I expect on the high end and low end? 2. Assuming the same terms, what kind of purchase price would you expect? 3. Is it possible to find whole sellers that would find me a deal like this for a fee? If so, what would a reasonable fee be? Thank you.

Hello everyone, Where is this meeting held at? Not sure if I can attend this one because of school, are these meetings always held during the week or are they on the weekends too? Thanks.

That is a great deal! Congratulations on your investment. Reading successes like this keep me determined.

This is dependent on what you want to accomplish in real estate. Personally, I prefer buy and hold. That is what I prefer, enjoy, and feel would be the best for my future. Why do you want to wholesale? Why do you want to buy and hold? Which of these will accomplish what you want?

I agree with Charles. You don't count profit from resale in that calculation. Cash on cash is calculated based on the cash flow each month.

Thank you both for the reply! So in a tax deed state if you win the auction you still receive a certificate? The difference being after the redemption period you do not have to force a foreclosure auction to acquire the property, is this correct? Can you still only get 3 per county and 5 total without registering or is this a Kentucky regulation? I assume it does not matter if you live in the state of the auction?