All Forum Posts by: Laurie Johnson

@David Krulac they are a COMMERCIAL institution. There are laws in all businesses and it is up to the OWNER of the business to stay with in the laws. As previously stated talk to an attorney if you are not sure. I am operating my business legally and ethically. If you are not sure of how these laws affect you by all means do NOT do owner financing or lease options.

@David Krulac

You can not "bring" them anyone. You can not collect a "fee" if you are not a realtor. You can however sign a contract to purchase the house and then assign the contract.

I have the same question. Who provided you with the 80% ARV? The owner? My guess is they are asking full/over full retail price and do not or can not work with a realtor because they have no money in the deal for them. What is there mortgage? Are they current on there payments? What is the condition of the house? What if any work needs to be done?

As for cash we all want that at closing. lol. Congrats on getting started. You just need to keep at it and find your niche.

Good Luck and Successful Investing

I love being on here and interacting with all the different people. Thank you all!! Good Luck and Successful Investing

Well you have to look at your options. Keeping it and getting a HELOC makes your monthly payment higher and also ties down your house further to the bank. However you can use it for several deals.

If you sell it then you get your one time payment and you are done.

Lease option you get money down, make money monthly and get the pay off at the end while having the super low mortgage payment. you can also make tenant responsible for all repairs

Each scenario works and each causes its own issues depends on what you need/want to do.

As I am not an attorney I can not advise you or anyone what to do. I can only work my business the way I know how and it is legal.

Good Luck

Absolutely it just has to be the right Broker. I would use them for cash buyers to start with. Most of their properties are not wholesale. Make sure they know what you are looking for. Work with several area brokers as well..

PS I am a Broker and not every broker/agent can work with investors they just do not get it

Hi Reggie you are being to broad. Real Estate comes in all shapes and sizes. Different areas and different classifications. What do you want to know about?

@David Krulac I understand your concerns and would recommend anyone seek the advice of an attorney. Many people on here do owner financing and lease option with no worries of breaking the law.

Do a lease option require atleast 20-30K down and lease for $1500 month. All bases are covered. House is "sold", mortgage is covered and you have money to work with.

Good Luck and Successful Investing

I would not provide the w/d. Let the tenant get that themselves. As far as the other appliances I used to go to this used place that would get all the appliances from converted properties (new owners, new construction) So actually new appliances but used prices. Shop around.

Good Luck and Prosperous Investing