All Forum Posts by: Trey Crusey

I'd rather not rent it because I'm moving out of state and for my first rental property i'd rather it be closer.  Also, it was my first property i bought so i'm emotionally attached to it and also don't think it would cash flow much at all. Would rather wash my hands of it completely but if I can make 15k on it while minimizing any risk I'd do that but also don't want to get in over my head here as a complicated "first deal"

I'm in the process of selling my personal residence and have someone asking about owner financing.  In doing precursory research it looks like there's more involved with this than i initially thought like dodd frank, RMLO's, attorney's etc etc. Initial talks when they came to check out the house was full asking price of $149900 and $15k down. I currently owe $130k.  

I'm looking for some help on structuring this. It seems like $15k down for a LO is high and they may not agree to that and I would prefer not to have to deal with Dodd Frank and having to go through the legal steps to actually foreclose on the property since I will be moving out of state.  If I did take the necessary steps to do owner financing, would I be able to sell this to an investor to get out from under it?

Are there any other options I'm missing?

What say you BP?

Are you talking the city limits of Birmingham or the entire MSA? if you search the surrounding areas i think you will see differently. 

Pretty sure by now just about everything has been discussed on bigger pockets. If everyone used the search feature we’d have no more new posts...

This is such a subjective question. Would I still show it? Yes because I actually care about helping my clients and am not just doing it for the money and $8k is still a pretty good commission IMO. Will every other agent out there? Probably not. It sucks and is not right but it happens all the time. If you want to cast the widest possible net then I'd do 2.5%. It still beats 6% for both buyers and sellers agents...

So just starting to dig into SEO since I see more promise in online marketing rather than DM. In doing some backlink searches on various competitors sites i noticed they were getting links from other wholesalers in different markets. Some had whole lists of other "proven" wholesalers in other markets and some had hidden the link in a blog or something. Sorry if this is a newbie question but is this something you just reach out to these site owners and ask if you can add a link to my site and i'll do the same? Referral program or people with connections nationwide? Any ideas or has anyone done this before? Is it common practice? 

Have you thought about what would happen if the bank called the loan due if the title changes hands? Might be too late now but you probably should have used a land trust to help obscure ownership. 

Why would you give your tenants your cell phone number anyway? Esp with all of the free land lord sites like cozy or tellus or tenantcloud that track maintenance requests. The last thing I’d want is tenants having my personal number

Definitely conceal carry. My thought process is if that situation ever happens all I want is options. The option to get on the ground with everyone else and blend in, the option to remove myself from the situation and flee or the option if my life is in immediate danger to at least make an attempt to save it. I’ll be damned if I’m leaving that decision up to a thug/junkie. There is a lot to be said about the element of surprise.

You should definitely ask an attorney to make sure but from what I have seen most wholesalers will advertise "contract for sale" instead of "3br/2ba Home For Sale"