All Forum Posts by: Tracy Stingley

Hi Friends,

I started researching and learning about REI a short while ago. I guess I assumed it would be easier getting started than it's been. I found myself feeling really discouraged because I haven't been able to close any deals. I was ready to give up a couple weeks ago but I have this strong sense that things are going turn really soon. I just have to keep at it.

I hope this encourages someone else to keep going even when it seems like there's no point! 

Stay tuned,

Tracy

Thanks @David Dachtera

Can you refer me to any title companies that allow this sort of closing? 

Congratulations! Very inspiring! Keep posting your journey! Thanks!

Tracy

Hi Friends! I recently started investing in real estate with my wife. We have been building our buyer's list and scouting out properties to wholesale. I am wondering if anyone in the BP community can refer me to a title company that does double closings in Illinois. Everyone that I've called has either not have a clue of what I was talking about or said they do not do it. Thanks, Tracy

Thanks Jonathan Makovsky !

Purchase Price: $29k

Rehab Budget: $25k 

ARV: $95K

Thanks @Sterling White! I was able to receive tremendous help from the guides! I was even able to pull a few contracts as well @Account Closed! 

Thank you both! 

Originally posted by @Joe Harper:

It makes sense if one of these is true:

1. You want to buy the townhome from your Aunt, and then pledge any equity as a non-cash down payment on a second property, as a second mortgage with no payments.

2. You want to find a lender to give you the equity as cash for a down payment on a second property.

If you buy the townhome from your aunt, you can't sell or borrow against her "interest in the deeds", but she will likely be bombarded by mail from people wanting to cash her out of that note, at a discount from the face value.

Can you clarify if you meant your equity or her equity?

 I am not sure. Can you clarify? If I purchase the property with a seller finance agreement, will I be able to use the equity in the property as cash for a down payment for a hard money loan?