All Forum Posts by: Troy Luster

@Jim Wilcox 

@Gilian Gegawin

Thanks for the welcome.  I think BP has a great tool here.

@Bryan Mitchell With all I'm learning I may not have to wait 10 - 12 years.  But I'd love to get to the point where I can invest my entire salary.  My single family homes are cash flowing, some more than others.  I know how to evaluate them now.  The saying "you make your money when you buy" is definitely true.  I think most military members look for comfort and not necessarily cash flow.  I knew early on that I didn't want to deal with renters.  I now have good and better property managers.  I've had to evict one tenant in 10 years or so.  

@Dave Visaya Thanks!

That's awesome. Thanks for breaking it down. In your example, what kind of ownership interest would you have in the property? What allows you to turn around and wholetail it? Does your contract allow you to sell it and does the owner have to approve any subsequent deal?

Trying to wrap my head around this a little better.  If you give them price, down payment, and earnest money, what's left?  Can you use an example of a deal?

Didn't see a closing cost calculator.  But if you are using the mortgage calculator you'll have to make sure your input is correct.  And yes, I would include all costs in the return calculation.

Where did you find it?  I don't know if you may be missing something, but I'd be wary of a great deal on Zillow.  But, you never know.  I'd reach out to some wholesalers or investors that are local.

@Mike Watson just made a post about seller financing.

https://www.biggerpockets.com/forums/311/topics/486688-some-ways-i-make-my-seller-financing-deals-simple-how-do-you

Dig into the forums and listen to the podcasts.  Your learning curve will improve exponentially.  As far as partnering with someone, they should bring value.  I'd look for someone who was good at my weaknesses.  And keep looking for that deal.  There are many ways to make it happen.

Great post!  Never considered some points like the most important terms.  It makes a lot of sense though.  What are some of the most popular terms you have seen?