All Forum Posts by: Tim Ellis

“The hardest part of change is going through the unknown.” – Rich Dad Poor Dad (Robert Kiyosaki)

Congrats @Steven Tawresey

I have done this a couple times also.  It works great and one of my favorite strategies.  Usually I need less money down to get into the deal which leaves me more for the rehab.  If you have any questions about it feel free to shoot me a message and Ill help any way I can.

I have done a couple owner financing deals.  The first things I do is get 3 things to start the negotiating. Final selling price, how much cash you'll need down, and the interest rate he will hold the note for.  To me those are the 3 main things to nail down.  They are also the things I massage to make the deal work.  I will be ok with a little higher interest rate if they don't want as much down up front.  I also always try to do atleast a 5 year balloon.  The last one I did was a 5 year balloon and had the lawyer write in an extra 2 years just incase something happens with the market and we cant refinance in the 5 years.  If you have any questions just shoot me a message, but this is where I start on owner financing.

There's a couple things here.  My wife and I started doing real estate together before we got married.  We spent our money on real estate before spending it on the wedding.  It works if you two are in it together for the long haul. 

Second. I am pretty sure (I could be wrong) but I am pretty sure that in order for him to run a property that isn't his in PA he would need to have a brokers license. property management in PA 

Best of luck!  Any other questions just let me know.

I invest locally.  I'm not a big fan of harrisburg. Mostly because I'm not super familiar with it.  I have a couple rentals in the enola, mechanicsburg, camp hill area and they are great.  They usually rent within 2 weeks of putting them up for rent. The cash flow is good and the area just keeps growing.  There's several of us locally that all meet up and talk real estate about once a month.  If you're ever interested just let me know.

This looks great! Congrats! I drove by it the other day and it looks fantastic.  I also used the portfolio lender that @Kyle McCorkel suggested. I got the 80% on my last BRRRR also and they are already helping with another one. Keep up the great work and thanks for all the helpful info you always give!

Welcome to BP!  I started a thread about this subject a little while ago.  Theres a lot of discussion and good information in this whole thread.  It should bring a little clarity to your issue, however the entire emotional support animal issue is kind of blurry.  here is the link the service dog dilemma

Hope this helps!

One of my businesses is delivering medical equipment to hospice patients.  Patients passing in their house or a family members house is normal.  It happens all the time.  Especially with hospice.  They just want to be at home when the time comes.  I don't think it would really matter much unless it is a crime scene or something like that. 

@Jennifer Osborne Welcome to BP.  I try to attend as many meetings as possible in the area.  CARPOA (capital area rental property owner association) meets tomorrow in camp hill.  LIMG is another great one i try to make anytime i can. It usually meets the end of every month in harrisburg.

I had this happen recently also.  We allow pets with a deposit and monthly fee.  They went out and got a puppy that was 7 weeks old and not trained in any way.  We still required the deposit (which we will refund) and the pet fee (which we will waive) once they show documentation that it is now an emotional support animal.  I actually started a forum which has a lot of very good info from a lot of people here