All Forum Posts by: Sandra Holt

Wow, that was a very thorough answer.  Thank you!  

I have already approached the owner about seller financing and she said she wanted to think about it and would get back to me by the end of this month.  

As far as cash flow goes, I am looking to buy the property to keep as my working office (I am an attorney).  My husband and I own a firm and have a few employees and we would all work out of the house while maintaining conference room access to meet with clients.  The office rent in my area is astronomical so in essence my law firm would be my tenant and as long as I am paying less than I am currently paying for rent, I would be happy.

I am looking to buy a property where I have a friendly relationship with the current owner.  I'd like to propose owner financing to her because I want to avoid the closing costs of a conventional loan.  Who gets the tax benefit from the property though (mortgage interest deduction, etc.)?  If the mortgage is recorded, then I'm assuming that I do.  Can anyone clarify this for me?  

Also, other than flexible terms and paying interest rate to a friend and not a bank, what are the other advantages of owner financing?  I'd like to buy another property this year and if I have to go through a bank to get that one financed, will it look better to the bank to have an owner financed property or since it's recorded, does that not matter? Thanks for any and all responses!

@Andraise Scott I'll also be at the BWI MeetUp on the 14th.  You can find more information by just googling BWI Investor MeetUp. 

Wow, thanks so much to everyone for the warm welcome and great advice!  

Hi,

I am looking for a mentor to teach me house flipping in the Columbia, MD area.  I currently have one property that I remodeled and am renting out but would like to learn flipping.  I can provide free repairs and maintenance in exchange for the mentorship or contract review since I'm an attorney.

Thanks in advance.

Sandra Holt

Do you know if there will be another Columbia, MD meet up soon?  I'm new to this site and missed the first one.  Thanks!

I am a newish investor from Columbia, MD.  I have townhouse that I've rented out for the past 4 years and am looking to buy another investment property by next summer.  I'd love to find people in my area to connect with.