All Forum Posts by: Victoria Townsend

Also, does anyone know if there is a penalty if you pay the loan back from RS before the 12 month period... like in month 4?

@Anu G. great post. 

What are your thoughts on using RealtyShares for the BRRRR strategy?

I'd like to use them to fix up an investment property but then refi out within a year. One thing I'm concerned of is whether I can refinance in time for this bridge loan. I want to make sure I have a clear exit strategy.. and not sure if buy & hold investors do this all the time with these lenders.

@Andrew Syrios @Adam Hays

Looks like quite a few people are commenting on making sure about property location since average rent is $475/month, so I figured I would post up the area.

I've attached an image of the 3 duplex locations below:

Owner mentioned he hasn't raised rents in years and that there is opportunity to do so. 

Zip codes are 64123, 64124, and 64125. They're all 2/1 duplexes.

Would love anyone's follow-up thoughts :)

@Jim Huish i could definitely try that - i guess I just feel like most owner-finance offers ive seen on this site usually have a balloon after a few years

what is your typical starting offer? And how much back and forth do you normally have?

@Tom McArdle  - that's a good point . ive seen a lot of seller-financing deals on here with low money down, so I figured I would try to offer a lower down payment amount first.

he's also an older wealthy doctor and doesn't really need a huge downpayment - he's more just tired of dealing with the tenants.

Hi BP,

I am in contact with an owner in Kansas City (MO) who owns 3 duplexes free and clear (total rents for all 6 units are $2850/mo). 

He owns these properties free & clear, and is willing to sell them at $175,000 with owner financing. He told me to make him an offer and he will look at it then decide.

This is what I am proposing:

• Sell Price: $175,000
• Downpayment: $10,000
• Owner: Carries a note for $165,000
• Interest: 6% 
• Amortization: 30 years
• Balloon Payment @ 5 years from now

• Using a calculator online, it looks like my monthly payment would be $989 and seller would make an additional $48,664 over the next 5 years.
• Using a calculator online, it looks like my balloon payment would be $153,318 in April 2022

Is this a good offer? Too high, too low? Am I missing anything?

This is my first owner-finance offer so I'm super nervous.... would love any advice from all of the owner-finance pros on here :)

I've read a lot about it online, but I still would love to learn a step-by-step tutorial on which homeowners are best to target, how to deal with real estate agents (or how to find properties without agents?), and best tips on how to make offers that are worthwhile for the seller. 

Anyone got any books that they can recommend? Would love to hear from someone whose bought through the owner-financing process!

(If it helps, I live in Los Angeles but am trying to find owner-financed rentals in Kansas City, MO. I will be flying out there and staying until I can hit my goal of acquiring 3 properties through owner-financing... fingers crossed!).

would an attorney be able to create the LLC in a better way that protects your assets than creating the LLC through Legalzoom?

oops . Accidentally bumped this

Hi @Sarah Hale , just curious, why wouldn't you use Legalzoom to incorporate?

My hope was to create the entity through Legalzoom and then get an attorney for creating the operating agreement (in order to save some money on the incorporation process). Definitely interested in hearing why using an attorney would make it easier to work with other companies though !