All Forum Posts by: Vic B.

Thanks you guys.  This is awesome forum with people like you on it.  

Vic

Thanks Eric.

Yes that is part of the process.  I will pay cash for the property and then need to figure out how to set up the agreement for purchase.  I was thinking I would ask for a down payment along with the monthly payments and then maybe a five year balloon to close it out.  I am looking for a contract that lays out the what ifs.  For instance if they miss payments, or don't pay the taxes, or let the insurance lapse...

Vic

I have a long term tenant that has asked me to sell a house to them on an article.  I have never done this and was thinking a five year balloon note.  The house is 140k. Should I get a down payment?  Are there any forms or contracts on this site to help me set this up? 

Looking for how to proceed on buying a house and then holding the note with a fair interest rate...

Thanks

Vic

I am ready to purchase a single house and the title insurance is $1000.  Is the insurance needed?  This seems to be a bit of a racket.  Wouldn't the estate attorney be cleaning up any liens on the property as part of the estate closing?  When you buy multiple properties a year this an added expense that really has my attention.  Does it make sense to risk it?  In 21 years I have never used it once.

Thanks  Vic

I would like to get the funds out of my 401k to purchase more rentals.  I love this business and think I could do better than my broker.  Is there a way to do this and not get hit with a penalty?  Leave the RE in a retirement account until 65.  

I appreciate the advice and post from each of you.  This is really a valuable site to newbie investors like me.  

Thanks

Vic

Hi All,

My name is Vic and I live in north-central Pa.  My focus is on single family homes using a buy and hold to rent strategy.  I am amazed by all the useful and cool info on this site.  Looking for a managment software for my rentals.

Thx. V