All Forum Posts by: Timothy Albright

Good morning all,

 Looking for feedback on a unconventional way to sell home to gain all equity within the home. The ideal outcome would be to find an investor I could sign a 6-12 month lease after purchase and then become a tenant. 

  My question would be, have any investors here purchased property from seller and seller stayed in home for a short period of time?  Any info would be appreciated. Thanks 

I need to add that the current owner actually found the person to purchase the land originally if I didn’t want it (they live next door). This is a done deal and will be signed off on at closing.

I’m hoping I didn’t miss anything else on the deal when I structured it. Also, still interested in everyone’s thoughts on my current home. Do I sell and collect a decent amount of cash to reinvest, or do I sit on this house and rent it out.

@Jeff Copeland

Greatly appreciate you taking the time to reply to my questions. The current owner had survey company out and submitted the paperwork to the county. That was nearly two-three weeks ago… currently awaiting that.

I’m new to the real estate market, Kinda long time listener first time caller type of situation.

I just recently landed an owner financed deal, the terms are as follows ;

•$450k for home (single story brick nearly 4000sq under roof 4 bedroom ,3.5 bath, 2 car attached & 2 car detached, and 10  acres in a booming part of town.

•I have a buyer for the land portion of this deal (8 total acres) for $110k, with that $110k I’m giving the seller $60k as a down payment.

•We have agreed to a 4.5% on the remaining $390k (house and nearly 2 acres), while I should pocket nearly $50k in the process.

• note: this home and land was appraised at $490k in 2018

Also, my current home I have roughly $70k of Equity built up.

With all that information I have a two part question. 1. Did I miss anything on Structuring the owner financed deal? 2. Should I cash out and sell my current home, or keep and rent?

Thank you in advance for taking the time with any help you can offer.

Hello BP!

I’m Curious if hard money lenders have general requirements? Or, will that very from lender to lender ? I would love to hear about any interactions you all have had with hard money lenders and what I should expect. Thanks again for any info!!

Quick question ... looking to invest in a duplex, FHA house hacking is the go to first investment. I currently have a mortgage, any way I can claim primary residence in my potential rental property?

Good morning BP!

Let me start off by saying I have zero experience in real estate investing, I'm a general contractor by trade so if I had to pick any type of investing the flip or BRRRR seems really interesting... however I'm open to literally any strategy.

As it sits I have $37k in home equity my debt to income ratio is extremely low... currently coming out of pocket to Reno my home, when completed it’s estimated my home will go up in value by the tune of $30k+

My question to the BP community is... what would you do with that amount of equity as a person new to the game? Honestly I’m open to any investment strategy. Thanks!

@Suny Capezzuto

When I do borrow from my equity which would you suggest ? Heloc , equity loan, cash out refinance? I’m completely open to any investment strategy as well.

@Suny Capezzuto

Currently I am renovating my home, once completed I should have around 55k$ + of equity... 3rd child on the way so it would make for a difficult time to house hack. The plan is to pull from the equity and invest

@Margaret Johnson

How long do you have to live in the 4plex to meet the regulations? I mean can I claim primary residence for a month and move ?