All Forum Posts by: Michael Healy

Is there an online note servicing platform you use for owner financing? One that keeps track of any prepayments and adjusts balloon and interest owed? Thanks!

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Hi there, 

I'm about a month away from closing on a property where owner has agreed to owner financing. I'm wondering if there's an easy  and cost effective way to set up and service this note that would keep track of amortization, interest, and prepayments. 

What have you used?

Michael

I will text message you.

Thanks, Manolo D. !

Or should I say something like, "I'm new here tell me what I need to know?" Maybe I'll get more responses. LOL.

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Hi, does anyone have a sample handyman retainer agreement that they would be willing to share? This would be for a weekly retainer – someone who would keep an eye on the property, respond to maintenance requests, and coordinate with other contractors. He is a licensed plumber and heating contractor as well. Many thanks!

Thanks this is all helpful advice. I tend to think the more money I keep the faster I'll be in a position to do the next deal. And I'm very conservative about having reserves so I don't take cash flow lightly. I invest in an extremely high occupancy area with very low rental vacancy and supply so I don't need much help with leasing. I've managed tenants before in condo situations so I feel comfortable interacting with tenants and empowering people to partner to find solutions. I mainly just need someone to be able to respond to emergencies, make repairs, and advise on capital improvements. I have an accountant so don't need that function.

Perhaps I'll feel differently in ten years or so. But the perspectives on this seem to be pretty back and white, much like the property management offerings themselves. If a salient feature of real estate investing is being able to actively influence your investments, why is completely delegating everything to a company the only way to outsource any of the burden of managing a property?