All Forum Posts by: Walt Payne

I was told by several agents that this is a valid price, but kind of like what happens when you try to sell a duplex. It is a SFH, but part of the value is that it has an in-law suite. That limits the potential buyer pool.

I have a $399K home for sale. Several agents have told me that it is a good price, but because it has an in-law suite it is going to be the right house for just a limited number of people. I would like to get a chunk of money out to use for down payments on investment properties. Since it has not had a showing in a month of being listed, I accept and understand that a price reduction is in order. But do I drop to my lowest now (would that appear desperate?) or should I do fairly quick incremental drops? What strategy is most likely to a) get me a quick sale and b) get me the most money possible without waiting too long.

I am also thinking of accepting a seller financing deal for over 30% down and the right buyer, but need to look into legal and tax issues first.

@Daniel Dietz You can't depreciate SDIRA properties, so in your example the UDFI would be due on the financed portion of the income if I understand correctly. This would make the financing worth little more in income. If you have time to pay down the loans, it might help some in the long run. But then again the appreciation is also taxed as income if you sell it so reduce that part by the same 33%.

I'm new here and have already learned a lot from the podcasts and blog posts.

I have a property that has no mortgage, and is listed for $399K. It was my personal residence. I think it will be fine on appraisal, but the market for that price range is not good here right now.

I want to get a reasonable chunk of money for my investment plans, so a typical seller financed deal doesn't work for me. I also am not willing to hold a second mortgage for any amount.

My thought is that if I can find a private lender to share the mortgage amount jointly (50/50 would be fine) that I could get enough to get started, and the buyer would likely re-fi as soon as they can to cut the rates. Is this a type deal that is normally done, and where can I find people willing to do this?

Thanks,

Walt