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All Forum Posts by: Scott VanScoy

Scott VanScoy has started 1 posts and replied 3 times.

Post: How do you still owner finance with Dodd Frank?

Scott VanScoyPosted
  • Big Rapids, MI
  • Posts 3
  • Votes 0

You can still owner finance. There are restrictions and guidelines if you do more then one seller finance deal a year. Just more hoops and disclosures. Contact a local real estate attorney and fire questions at him/her. If you are actually doing deals via seller finance it will be well worth the cost to speak with an attorney.

The club is in Wyoming, MI. It's in the Grand Rapids area. Here is a link to their site. I didn't find it very helpful though:(

I have been a podcast listener for about eight months and this is my first real visit to the site. I created a profile several months ago but, never took any action or made any posts. I thought there wasn't anything that could work in my area or if it did it took money that I do not have. After listening to podcast #45 I finally decided, maybe this can work in my area?

I have never done a deal but, I have been learning for years about real estate. Always jumping to the "shinny object" but, never getting any where. I currently live in Big Rapids, MI but, would like to start investing in my home town of Traverse City, MI, which is about 90 miles north. It is a beautiful vacation destination during the summer when school is out and has a growing population.

My original idea was to start wholesaling in order to generate cash to purchase buy and hold property. I have found a REI club but, it is 70 miles south of where I live now. I was hoping to connect with someone in the Traverse City area who is currently wholesaling, flipping, or holding properties that would be open to lunch and sharing what they know.