All Forum Posts by: Daniel Shults

All the answers on here have been great, and very helpful!

@Mariepoe I would be willing to vacate the renters if I have to, but would rather not. Do you know of any investors that would pay cash for this deal? I can find managment for them?

I paid $4,500 and took over, I would'nt say assume because that is an actual process that takes place when you assume a loan with the lender. Right now I have a land contract that states that I own the property and will pay her current mortgage. I intended on holding the property but now im thinking I want the equity out of it.

does that help any?

I am a lender, and from what I have always heard is that you cannot refianance a mortgage you dont own, when you do a refinance the lender will ask for a most recent mortgage payoff, a title search and this will throw up a red flag that this person isnt the owner of the home.

Well, if I sold the property right now it would Cash-flow $350 or more. Its already a good deal, so I dont know why I would come off the price for an investor or a OO. what would an investor typically want out of something that will cahsflow that much from the original asking price?

Thanks for the help! I hope it sells! I am listing it on the MLS this week, what would you offer?

I dont think a lender will allow you to refinacne a mortgage that's not in your name, even if your on the deed for 12 months. Don't understand how that will work.

Thanks for your quick replies! First deals are fun!

yes I do, but im not on the Title of the home, and I want to make sure that I get my money at closing. say the subject to contract was for me to pay $4,500 and take over the exsisiting mortgage, then when I sell I get the equity from the sale. If it sells then I want to make sure I can get that money written to me.

How can you sell the property to another buyer if your name is on deed but the person you did the subject to deal with has the mortgage. I have renters insurance on the property and the mortgage company as the named insured.

I am trying to sell to an investor, but I want to make sure that I can even if they get financing from a bank.

I am trying to flip to get the cash out of the equity in the home.

The tenants pay utilities, and everyother service, this is my only SFH so i dont intend to use a property managment company.

So, how do I find good buyers for this type of sell? I dont want to sell to somone wanting to live there because I want the tenants to stay! they really are great!

We havent had one vacancy in 7 years!

I'm trying to sell my investment property, can someone help me on my cash flow analysis based on numbers I provide? It's valued in the range of 90K-98K. Rent:$950 PI:$450 Renters insurance: $68/Month Taxes: $87/Month Maintenance:$50 It's in a great area and tenants are solid!! Appreciate the help!