All Forum Posts by: Jacob Seethaler

Hi Everyone,

I've been a leech here for a long time just enjoying everyones posts and articles. Thank you for all your great advice and information! A bit about me.

I've been following a simple path of buy a house, move into it, fix it up, rent it, repeat the process for about 7 years now. I have acquired 5 SF homes and 1 commercial building. My family is now to the point where my wife and I think we'd better settle down so I am actively looking to grow my real estate holdings in other ways. I currently have one property under contract I am looking to flip, one under contract to hold as a long term rental, and am looking at picking up my first subject to property. I have a lot to learn, but look forward to sharing my experiences to help others as best I can.

That helps a lot - thanks everyone. In the case of the seller does it make more sense for them to look at something like a sandwich lease as it will enable them to show the property as a "rental property" in the future and utilize the payments as income adding some relief to the debt to income ratios?

Shane Maynard - Join your local REIA and make some good connections there. You'll quickly see what the succesful investors in your area are doing and will definitely get some ideas as to how to get started.

I use a simple joint venture agreement for each deal that I partner on. Each "entity" joins the joint venture and the agreement specifies what everyone is contributing and what everyone is receiving in distribution of profits and losses. When distribution of money happens it goes out to the entities on the Joint Venture and they worry about taxation based on their entity type. It's worked for me.

I'm curious what anyone's experience has been with sellers who attempt to purchase a new home after selling their home "Subject To". Are they able to qualify for another home purchase because the new buyer is servicing the loan or because they are the individual named on the loan does it become much more difficult for them?