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All Forum Posts by: Ryan Irving

Ryan Irving has started 4 posts and replied 5 times.

Post: investro friendly agent wilmington nc area

Ryan IrvingPosted
  • Wilmington, NC
  • Posts 5
  • Votes 1

I am looking for an investor friendly agent that can send me mls listings for wilmington nc and surrounding counties.

My parents are willing to sell me a property for very cheap.  however there remains a 72k morgage on the property.

Could they sell the property to me for 107k so that the bank would loan me enough to cover the existing morgage.  so that they could deed the property over to me and i continue to owner finance with zero interest the remaining money i owe to them.

This is an attempt to not have to come up with money down and get around the loan coming due from them deeding the property to me.  also this would remain a rental property so that is why i would be using a traditional loan.

I wanted to know if this is the best course of action and the legality of it.

so i should probably be looking for rental properties in surrounding counties if i am looking to stay within that price range?

Post: investing in downtown memphis

Ryan IrvingPosted
  • Wilmington, NC
  • Posts 5
  • Votes 1

Would it be advisable to invest in a property in downtown memphis with a listed cap rate of 13% and advertised 100% occupancy?

My family has been in the rental business for 25+ years.  however they created all of their rental properties.

I am looking to strike out on my own and invest in properties in the vicinity of these 2 areas.  

I am currently looking for properties inbetween the 30k-100k area.

I would greatly appreciate adivce on where specifically i should be looking to invest near these areas.  

Thanks,

Ryan