All Forum Posts by: Matt G.

"I didn't tell them I was contracted but w-2 since it's much more complicated when you contract or so I hear"

yeah shouldn't have done that.

http://www.nytimes.com/1999/07/04/magazine/a-patel-motel-cartel.html

 Go one step further and write in to the note that the borrower pays the monthly servicing fee. That's what I did when I sold a house on a note and the title company attorneys wrote in a one line sentence that borrower pays the $15 month servicing fee. 

Get a title search done

 Yes, you can ask questions in a chat box after you have an accepted offer. 

 Probably supposed to be a 9v

I've used Real Star Property Management for a couple of mine in Temple. They're good. They also handle rentals in Killeen but don't manage Killeen fourplexes any longer.

http://realstarmanage.com/

The attorney you are using can add the language in. A simple sentence will be enough (see attachment)

I use both FCI and Note Servicing Center for notes I have. For ease of setup and a more personal experience, I would recommend Note Servicing Center http://sellerloans.com/lenders/seller-financing/

FCI has a really good platform to see all your info on your note as well as a nice marketplace if you want to list your note for sale in the future, but you do get passed around to various people. http://www.trustfci.com/

Get a servicer, add the $15 servicing fee into the promissory note and that way the buyer is paying for the servicing and you don't have to worry about extra payments and late payments, etc

You might want to see this other recent post regarding the same thing: https://www.biggerpockets.com/forums/759/topics/336431-looking-within-3-hours-of-austin-round-rock