All Forum Posts by: Timothy Cervantes

Thanks for the great forum!  I'm a long time member of a lot of different forums and I have to say this is by far one of the most active and engaging forums I've seen.  Very excited to have found BP.

I'm also very excited to have finally decided on to starting to build a foundation of a second career!  I've been in retail for 19 yrs and although I love my industry and job, there has always been an entrepreneur inside of me (big reason for success in retail).  Anyhow I've loosely decided on my strategy and I am currently looking at short term goals and tasks associated to getting myself into position to cross the line of departure!

My hopes are to initially complete my first buy and hold property within the next 12 months on a lower end property.  I want to take my time and ensure I can ease into what will be an exciting learning curve,  I'm sure I will make mistakes so I'm positioning myself in order to be able to absorb HUGE mistakes in a small(ish) investment.  This is important as I am married and my wife fully supports our adventure but needs (as do I) to gain confidence and momentum in the early stages and propel us to longer term success.

Ultimately I want to experience all aspects of real estate to be well rounded but at the moment, but I believe buy and hold suits my individual skills and my current situation.  Anyhow, great to be here looking forward to continuing my education. 

No, I want to own it.  Too many stipulations putting the lessor in control or partly in control of my decision making and possibly my property. 

Not here to argue on benefits of lease vs. buy, one works for some and the other works for me and my situation. 

 I'm very much so interested in the savings to include it being better forth environment.  I just want to OWN it lol.  I'd rather pay zero to anyone and add equity.  But I may be shoe stringing myself by getting into a 20 yr commitment.

We are in escrow to purchase a home which has a leased Solar system with Vivint.  The lease could be assumed if I pass their credit requirements but I DO NOT want to assume this lease as it does not make financial sense for me.

Has anyone done this?  I found one thread where the OP bought a FORECLOSED home and purchased the system for 5k.  Maybe ask the seller for a credit?  How much of a credit should I be asking for?  i know that question can't be answered without some details.  2100 sq ft, Offered 255k accepted (asking price was dropped 34k before our offer).  Sellers moved out of state and are carrying two mortgages.  Last sold (according to trulia) in '99 for 199k.

Anyone have any input or suggestions?

I'm in the exact same position BUT it's not a foreclosure.  Anyone have ANY idea what my leverage is if any?  I don't want to assume this lease, it's ridiculous for me.  LOVE the home and I love the idea of solar, but NOT a lease.