All Forum Posts by: Rigo Medina

@George Despotopoulos

I learned something new today. Thanks.

I am seeing that there are lots of way to get money. Is it common to get an interest only hard money loan or is that only for seasoned investors? That would be great for a flip.

@Shanequa J.

Great strategy to keep the deal. This could be your house that bring in cash for your campaign mailings. Smart lady!

Keep us posted on how your 4 deals go.

@Shanequa J.

You've spent close to $9k on the campaign. Have you broke even or at a positive profit from your 2 wholesale deals?

@Account Closed

Awesome! Was your deal an off market deal?

How long were you on the search for this deal?

Congratulations to you as well. Post your success here on BP.

@Tyler Hodgson

Was this an off market deal or how did you stumble across the sweet deal? That would be a great success story for you to post here on BP.
Congratulations!

@Scott D Fitts

Another gentleman here on BP told me that a seller may be looking to defer capital gains taxes, receive a steady income, at a good interest rate.

Thanks for your input.

@Michael Healy

Light Bulb just went off. Deferring taxes and a steady income with a good interest rate.

Thanks Michael.

Would someone help me understand why someone would want to seller finance a home they are trying to get rid of? If I was selling a home, I would want my cash now and would not want to be tied to the house or loan for the next 15-30 years.

Or are people doing seller finance for 2-5 years and then the investor sells the house?

@Jay DeCima

Thanks Jay. Because I am a newbie, I am looking at starting small, but I am up for anything. Sometimes things just happen at the right time. I agree with you on buying the groups of homes.

I can't see why a seller would want to finance a home or homes. If I was selling a house or group of houses, I would want the "cash" now and not be tied to the home at all. Can you shine the spotlight on what I am missing?