All Forum Posts by: Tiankhy Hinton

Do you know of an good RE attorney? 

Yes, I would love to attend.  When is the next meeting?  I would like to speak with an REattorney concerning closing, contracts and general info for other strategies I have in mind.  I have a deal where the owner is willing to entertain seller financing (Bond for Deed).  Based on what I been hearing there a mixed opinion on if I am able to execute a bond for deed if there is an existing mortgage.  I figure my best bet is to speak with an attorney.  

I would agree with @Jesse Waters, your local REI is a good place to start.  Another great place to start is by obtaining your Realtor license.  The information you obtain will be beneficial as you start your career in REI.  After reading several articles here on BP, I decided to take the class. Also, there are several good blogs, podcast and books available here on BP.  Before I decided to jump into the REI world, I read everything I could get my hands on.  That actually help me to secure two Realtor's to work with me on finding and closing deals. 

Good Luck and best wishes! 

Hello Everyone and Happy Turkey Day!

Does anyone know of a good real estate attorney in the Shreveport/Bossier City area in Louisiana? 

@Wendell De Guzman - I have really enjoyed all of your posts and following your efforts. Truly amazing are your efforts in closing deals, providing solutions for sellers, motivating other through sharing information, and your willingness to help others learn the business of REI. Hats off to you and your staff! You have inspired me to get off my assets and get busy to making my dreams a reality. In the event you are looking to expand your business in the Louisiana market, I will be more than willing to contribute my part in exchange for the experience.

Happy Holidays and Cheers!

T.H.  

Very good post.  I will use the same approach with my marketing strategy.  This will help save money.  Thanks!

That is an interesting question. I would also like to know if there are any requirements on reporting to the credit bureaus myself. I'm interested in using seller financing to acquire my first real estate property. The property is owned by another REI and he is tired of the rental game. He is selling a duplex for 35k wtih 2100 sq ft which has two tenants occupying the property generating cash flow of 1125.00 per month. Needless to say, he doesn't have a mortgage so no banks are involved. Sorry I don't have any answers for you but I would like to know what impacts seller financing would have on the buyers credit if applicable.

I agree with Andrews, joining your locate REIA is an excellent opportunity for networking and finding buyers. If the deal is a great deal, you shouldn't have any issues with finding buyers. I recommend taking the suggested action offered in this post and begin building a buyers list. One of the wholesaler's in my area has a strategy of getting cell phone numbers and she will mass text potential buyers with a small ad with basic details (Asking Price, rehab cost, and possible rental income) and ask those buyers to contact her for a more detailed listing. Listen to BP podcast for some excellent ideas on marketing. Here are a few I would recommend listening to if you haven't done so already:

PodCast #71 http://www.biggerpockets.com/renewsblog/2014/05/22...

PodCase#69 http://www.biggerpockets.com/renewsblog/2014/05/08...

Additionally, I would take Bill up on his offer to partnering your wholesale deals, this will help you with moving of the property and can be mutually beneficial for both parties.  Make sure you have a contract in place with each deal. 

Good Luck 

 Curtis, you bring up an very interesting point.  I often wondered how to handle a deal where the end buyer has acquired bank financing.  What type of problems can occur if you have a home under contract and the buyer wants to finance the deal?  Are you able to receive a finders fee or keep your standard commissions?  More so, is the act of selling property using an "assigned to" clause violation of local or state laws?