All Forum Posts by: Susan Oram

thanks all for the suggestions and info. I have been sharing all the info you've suggested and recommended.

@Mike Dymski and @Scott Hawley,   This is only one of her retirement accounts from her last job, not 100% of her money to risk, I would never do that to my mom.  She recently left a position to go to another company and is thinking of getting into some real estate minded avenue.  She would rather be a private money lender rather than owning or being a landlord.  She doesn't want the "headaches" that come with this business.  She has seen me build my real estate portfolio and would be willing to use these funds to help.  I own 7 properties, so this would not be a first foray into RE for me. I appreciate you looking out for my mom.

Thank you @Chris Seveney for the suggestion to speak with Brian Eastman and @Michael Plaks for recommending Dmitriy Formichenko.  I will be reaching out to both of them.

@Cara Lonsdale  I will run your suggestion by her, just in case she may consider owning herself.  

So my mother has a 401k that she needs to roll over into something. She is willing to loan the money to me to help purchase real estate. Thereis roughly 26k in the account. What would be the best vehicle to move this money to in which she would garnish the best tax advantages and help any proceeds we pay her to be tax free/deferred? My mom is 56, works full time and doesn't need the money right away. I would like to help her build her nest egg even more by the time she decides to retire. Thank you for your help.

It was great meeting other local investors!  I have a bead on 3 properties at the moment and cannot wait to see where this will lead!

Hope to see you guys there!

Thank you @Patrice Penda.  

@Will Chamberlin  I did and i do come out positive....but only slightly so.  I opted to pass on that property due to the small profit margin.  

just saw this, hopefully I can make it out!

Hi guys, 

I need your help. I am looking to work on my first seller financing deal. I am still new in the REI game, so any and all help is appreciated. I live out of state and would have to hire local property management, which I have in place from another local purchase.

Here are the details of the property:

The property asking price is $45,000 and the "zillow estimate" (i know this isn't accurate, but give me a ballpark) has the houses in the area in the mid 40's to 50k range.  The property is located in Syracuse, NY.

The seller is offering the following terms:

Minimum $10K Down, Amortized over 5 years, balloon payment at 12 months, 5% interest rate, $500 monthly payment. That's a rough estimate.

Is the balloon payment due at the end of those amortized 5 years or at 12 months?  Or is the down payment supposed to be getting amortized?

My thoughts: it's paying retail for a property no room to force the appreciation at this point.  The rents are 750 for a 3 bedroom and 550 for a 1 bedroom.  It appears as though rents could be increased some to a closer market average.  

Thanks for any help, I truly appreciate it!

@brian pulaski

meriden is my target area at the moment.  but I am not adverse to surrounding towns, new haven or groton/new London areas either. Though being new to it, I'd like to stay local.

HI everyone,

I am a newbie to REI. I am looking to master the BRRR strategy I have completed one deal already using this strategy and I am looking to add more.

I am looking for someone who is looking for someone who is open to mentoring, i don't mind doing gopher work, in fact at the moment I am free during business hours so I can do errands and such as needed.  I feel like a small bit of hand holding is necessary to finesse through  my first few deals before shoving me out of the proverbial nest.  

I am interested in meeting up with investors to network and discuss deals. I keep coming across opportunities but the funding seems to be an issue at the moment. I'd love to know what places some of you use. I have used Capital360 that I located through BP for my initial BRRR.

I also have a network of contractors available that I have worked with in the past that are insured and bonded and reliable.

I can't wait to meet and potentially work with you guys!