All Forum Posts by: Stephanie Boggs

This is my first year using private money to fund my flips. Do I need to send my private money lender a 1099? Do they send one to me?

Thanks for the help!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $24,000
Cash invested: $7,000

Purchased this home from the MLS (foreclosure) for $24,000. The home only needed $10,000 in repairs to get it rent ready and looking like new! We have a total of $36,000 invested and the home rents for $700 per month.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $24,000
Cash invested: $7,000

Purchased this home from the MLS (foreclosure) for $24,000. The home only needed $10,000 in repairs to get it rent ready and looking like new!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $10,000
Cash invested: $10,000

Purchased for $10,000 and then invested another $40,000 in a new roof, windows, HVAC, sump pump, and sewer line, etc to bring the property into excellent condition.

Thank you for your advice!!! We don't own the property outright yet so it seems to continue renting to her and doing a separate option contract would be the way to go.  I appreciate all your input :-)

Hello! Has anyone owner financed a rental property to a tenant?  We have a tenant who is interested in purchasing one of our rentals & I would definitely be interested in getting this one off the books.  It's not in a great neighborhood and she has paid rent on time for the past 10 months with no issues.  Any blogs/books/etc where I can find some useful info on what terms to offer and how to structure this?

Thanks!

Hi Brad,

I know this is late on this post but just wanted to let you know if you have anything that comes up for Southern West Virginia please let me know.  Bluefield, Princeton, etc.  Thanks!

@Tyler Libby thank you!  I'll check that one out & I appreciate the info!

Hello!  We are wanting to get into selling some of our properties via owner financing.  I know Dodd-Frank has changed some things and I was wanting to see if anyone remembers which podcast they were specifically talking about selling properties via owner finance and how to work around Dodd-Frank and stay within the limits to the law?  Any other info or resources on the subject would be great!

-Stephanie B