All Forum Posts by: Thant H.

You are right @Joe Impagliazzo . After being confused by a loan officer who kept telling me no, I found many other lenders who said the same thing like you. It just happened that I talked to the wrong loan officer.  @Victor Barcik 

Thanks @Bill Gulley for different perspectives. 

Update on negotiatiion: I visited the property today and showed him 3-4 different options in terms of seller financing. He was confused and I had to send him an email to present offers. He was concerned with tax situations about how and when he is going to be taxed. He will talk to his CPA and will probably get back to me. 

His priority is total amount he will get and is open to seller financing. Other investors offered him cash or lease options that he did not like.

Market value is about $175K, and repairs needed to make rent ready $8000. He's asking $187K.

Basically my offers are something like this.

A) Total amount to seller at maturity $150000: principle only $500/month for 7 years, the rest to be paid at maturity. down payment $5000

B) Total amount to seller at maturity $160000: principle only $550/month for 10 years, the rest to be paid at maturity. down payment $5000

C) Total amount to seller at maturity $165000: interest only $260/month, 10 years balloon. down payment $5000 

D) Total amount to seller at maturity $179000: principle and interest $570/month for 12 years balloon. down payment $8000

Any input or suggestions are greatly appreciated.

Thank you @Jeff Bridges and @Aaron Mazzrillo . Those great ideas are exactly what I was looking for. Really appreciate it.

Thank you @Jeff Bridges for the questions that I need to answer before meeting with the seller. Very great points. I really appreciate it. With 4% interest rate as starting point you mentioned, my purchase price has to be lower than I originally wanted to offer. 

@Aaron Mazzrillo yes. I was thinking of negotiating prepaying monthly payments in exchange for reducing purchase price or down payment. Thanks for the sample letter. I'll sure keep it in my files. 

Hello all,

I found a free and clear seller (somewhat motivated) who is willing to do owner financing. I plan to buy and hold that property. I am going to take a look at the house soon and plan to offer him all cash offer (about 65%ARV-repairs) and a term offer (100% seller financing: $0 down with 0 to 4% interest rate). I plan to offer about 70-80% of market value for owner financing. Is it reasonable? I will have positive cash flow if I can I can negotiate lower purchase price and interest rate.

If there are not many repairs needed, what do you normally offer in a deal like this? Thanks for your time.

thanks @Account Closed . If i do not want the property after GC pre inspection, do I need to get like a short report from that GC to terminate the contract?

Hello everyone,

I am making some offers on properties sight unseen on MLS (retail and REOs) and something came on may mind. Let's say: the seller accepts my offer and I do inspection on my own without an official inspector. How can, if I find some big issues, validate my response to the seller and get the earnest money back? Is a licensed inspector's report needed? I understand some REOs and HUD do not care about your inspection reply.

My concern is that I don't think it's economical to have all properties that accepted offers inspected by paying inspectors $400 each. Is there a way that can be done to save money?

 Thank you all in advance.

@Dustan Marshall 

Do you think you can combine a couple of properties (sub 50K) and get a blanket loan or something? 

Thanks @Joe Impagliazzo 

Thanks @Andreas W.