All Forum Posts by: Rick Mroch

Thank you for the feedback its really appreciated. Im looking at 7% however I think a better safe guard for me to have enough skin in the game is to move the sales price higher just in case he decides to pay off the loan earlier. I also like the idea of a balloon at time of sale if he decides to pay off the loan earlier. I've done the background check and everything is solid as of now in terms of his creditworthiness and cash flow and maybe I do a lease to purchase instead of putting him on title that way if he faults I do not have to foreclose. Any thoughts on that? Once again thanks for your feedback and advice.

I currently have few acres with a house on it and have a private buyer lined up. The sale is 250K and he wants to put 150K down and spread the other 100K over the next two years. I owe roughly 140K on it and wondering what would make sense as a deal. Any recommendations that make sense welcomed. 

I'm looking at buying a property from a couple that would like to move out. This will be an investment property long term for me. It is a split level unit that has basically an upstairs apartment and downstairs apt. Right now they live in the upstairs and rent the downstairs. I have discussed with them doing a owner finance and me purchasing from them. I would take possession of property and pay them directly. Once i take possession I would rent the upper unit or move in /rehab it then rent. The property has a lien on it and I need some help putting together a deal that would be as iron clad as possible. Any help, suggestions or knowledge transfer from folks experienced in this would be greatly appreciated.

I'm looking at buying a property from a couple that would like to move out. This will be an investment property long term for me.  It is a split level unit that has basically an upstairs apartment and downstairs apt. Right now they live in the upstairs and rent the downstairs. I have discussed with them doing a owner finance and me purchasing from them. I would take possession of property and pay them directly.  Once i take possession I would rent the upper unit or move in /rehab it then rent. The property has a lien on it and I need some help putting together a deal that would be as iron clad as possible. Any help, suggestions or knowledge transfer from folks experienced in this would be greatly appreciated.