All Forum Posts by: Rivy S.

@Dolly La Salle  it's actually usually the opposite-- class C you can sometimes get 2%, but will probably have headaches with the tenant.  For class A, you'll be lucky to get 1%, but you can likely find a higher quality tenant.  

(For example, in my area, a class A house will probably cost 250-300k, but will only rent for 2500.  But if I got to class C neighborhoods, I can probably find a house for 90k, that will rent for 1500, but...)

@Shahriar Khan also I think you're right and I need to adjust my expectations in terms of timeline, since I am dealing with a narrow demographic.  It's just that several ppl I had spoken to told me that when the listed their Owner Finance deals, they flew off the shelf, because there is such a demand.  So I've been concerned to be having such a different experience. 

@Shahriar Khan  These actually are professional pictures that my agent arranged to be taken...  

 I like your idea of targeting realtors whose clients have been turned down for loans.

@Wayne Brooks if they call the note, I will pay it.  That is a risk that I calculated for.  It is the same risk that many investors take when transferring a property into an llc.  

@Ellen Haynes you are right, the curb appeal doesn't match the interior.  I will have to see how much painting would cost (budget is tight, but not selling is even more expensive), and definitely look into some landscaping

@MOHAMED M. Yes, you are correct, that is a risk I am taking. It is the same risk many investors take when they transfer title of their properties into an LLC. I would have sources of funding that I could turn to in an emergency, so this was a calculated risk.

@Account Closed gotta say, I hope you are wrong :)

@Elenis Camargo  Yes, I wasn't targeting investors for this property, only home owners who can't qualify for mortgages.  You make an excellent point about less financially educated people not understanding the term owner finance.  Maybe I should update it to say something like "rent to own" or similar language. 

@Rae Copitka  Thanks for the detailed feedback!

I will have to have a look at sprucing up curb appeal.  That has been feedback I got from a showing agent as well, so this reinforces the need. 

I let the agent handle the copy for the listing, I can do more research on more engaging text

At this point, I would not accept cash. My goal with this is long term cashflow, which would obviously not be accomplished with a cash sale.  Also, since I took a loan on this property I can't sell for cash within 6 months or I believe I will incur a penalty on my lender.

I'd love to hear from people who are actually selling with owner finance in DFW what the going rates are. If I'm too high, I will definitely adjust.  It's just that from what I've heard from people in the area, those are acceptable terms, and wouldn't explain the lack of activity.