All Forum Posts by: Vince Priolo

@Betty Snowie how are you marketing to the snowbirds? Typical VRBO/AirBnB?

@Colton Fairchild thank you. Have you put together one of these deals before? I do know what I would do to get the most rental income, how much it would cost and what I could get as rent. I’m going to read the article as soon as I get home as I’m sure it answers a lot of questions.

What interest rate do you typically give the seller?

How do you transfer title in CA? I’m sure the government wants their piece via tax so do we record the sale as a $1 sale?

I don’t have capital to put down since I just purchased a home. I actually close escrow later this month. It will have to be a 0% down scenario.

Thanks for the help.

I’m currently renting 1 side of a duplex that is owned by a 70+ year old single woman. She bought this place back in the 80’s as a rental investment. My wife and I are in escrow on our first house so we’re moving out and during a discussion with her yesterday, I realized she doesn’t know what to do with this duplex. She also doesn’t want to deal with tenants anymore. She’s had some really bad experiences in the past with tenants fighting and now that I’m leaving, she’s going to have to risk those same experiences. I have been here for 7 years and she loved me as a tenant.

So here is my question, what are some strategies from others BiggerPockets members that have used owner financing to help an owner like this get money for their property, never deal with a tenants again and allow me to get ownership of this house!!! She’s an amazing lady and I want to help her get the money she deserves from this duplex (it’s worth ~$1.5M in Newport Beach,CA) but never deal with being a landlord again. I’m only assuming owner financing is the best approach from listening to so many BiggerPockets podcasts but I’m open to better creative options. Thank you very much in advance for any help I can get.