All Forum Posts by: Shawn Ryan

As stated above anyone know a good resource or can anyone let me use their documents if that’s allowed.
1. I’m looking at screening questions for the application. Supporting documents like Drivers license, proof of job and income, anything else you do or recommend doing.

2. What do you do if you say no pets and then find they have pets?

3. Lease agreement to look at or things you recommend putting in lease.

I’m more to this and want to make sure I avoid as many pitfalls as possible.

Thank you,

Shawn 

I’m looking to buy a 2 acres plot of land 225k. I own a 320k house free and clear. Credit is really crap right now as I messed up and over extended myself. I’m 60 days late on my mortgage and a few credit cards. I know my score went from 790 to 500 or lower. I admit I messed up but will be on top of everything in 40 days or less. Credit will still be hosed.

Now know my credits crap and that I have 60k equity in my personal home and 320k equity in my rental. Plus I own a business and work for the man for the time being. Rent income is $1900 I make $800 every 2 weeks after all deductions. What could I do to seller finance this property that the seller wants to get ride of?  Selling agent said they want to let it go it was extra land from their deal so they would take less he said. I don’t have a down payment really. I’d like to buy it and place 5-10 rv pads and rent them for $450 a month. Plus it’s commercial so I can place my mobile shop on the road front. Any advice would be great. Again sorry for the rant but trying to get the most information out so I can get the best advice. 
I’m trying to get out of the corporate world I left my 115k year job about 2 years ago. 

Thank you,

Shawn 

Forgot to mention rent is due the first of the month. Also that this will be a one time exception. 

I’m new to this and it’s my first property. I own a house free and clear just finished everything but repairing the front porch. Valued at 320k 10 year old 4 bed 2 bath single detached garage. Rents for $1900 tenants moved in a 3 weeks ago. He helped me tile the bathroom floor and repair the back porch. I let them move in before I was finished since they lived in a hotel. They had just moved from out of state and seem to be really great people.  sorry for all the back story. 
now to the point they have paid first month and last month already. They are closing on their house in the middle of July and want to pay July-December in one lump sum when they close on their house. What are the pros and cons if any? 
should I make them all separate money orders to show the irs and anyone else to prove the moneys purpose? Any advice would help. 

I’ll also be posting another post about seller financing. I want to purchase land see other post if you can help or have advice.

Thank you,
Shawn 

Thank you Greg and everyone else I appreciate it. 

I purchased a house in Galveston from the original owner right before Foreclosure. I didn’t have the previous owner sign a lease or anything. I’ve been told that I could evict her if needed. Long story short the previous owner has moved out and is living at a new apartment. She has moved 75% of her stuff and turned off the electric. I have just put the electric in my name. Can I go take possession of the house and change the locks then move her stuff out to the curb? She lives rent free for 45 day and has moved out 4-5 days ago. On 4/6/22. I don’t have keys or anything. I just want to go over let my self in the front door or window and change the locks so I can get it ready for a renter. 

Thank you,

Hello, 

I’m not looking for cash. My dad and I are purchasing a house the bank is about to take. The current owner has to pay about 12-18 k in back payments and escrow payments. This delinquent payment has to be made this Friday. We have the cash coming from the 401k but are worried it might not make it in time. We have the house under contract and are worried. We don’t have access to any more cash right now and I have been denied a loan for the cash. I just started a business and have spent 77k in cash starting that. We came across the property be luck and want to capitalize on it. Any ideas? Anyone know of a way to borrow the cash with a 100% guarantee? It will be paid back at closing. Does anyone have knowledge of a place that does this? I’ve tried a hard money lender against to property as the numbers are beyond in my favor. Company was catalysts funding in Houston. They seem to take way to long. 
side question if/when I get the 12-18k cash should I pay the bank so the won’t take it? Then redo the contract to account for that on the purchase price? Is there something I should change in the contract to say I’m owed that money if she backs out after I catch her up at the bank? 

I’m willing to call anyone that knows about these matters. I’m also aware of the posting rules and believe I’ve followed them. I’m not asking for cash I’m asking for a source to obtain the funds.

Bank needs money this Friday the 25

Thank you,

if I do an auction can we set a reserve and who would you recommend? 

She would but she needs out of this so she can purchase her beach condo. I’d like to do something like that but haven’t researched enough apparently yet on how I can do it.

my mother is trying to sell her home herself and wants to do it the cheapest way possible. Any help would be nice. Wichita, KS