All Forum Posts by: Dominic Wentz

HUBZU.com and XOME.com these are the ones that I know of but it seems that theirs more depending on your state as well their are state auctions. and county auctions sheriff auctions police auctions ect. 

Hopefully this helps.

Hello just a simple suggestion look around in your area for a lawyer that deals with realestate. If this is your first time with out an agent this is a great way to move forward and be legal. My first house purchased this way was smooth and turned into an owner financed property. And now it is complete and paid for 100% No bank used. The seller did have an agent. I am working on another home now and this time No Bank and No Agents on either side same lawyer though. My cost are very minimal. For me its the only way to go.  

Hey thanks everybody!

  This has realy helped me out a lot I am going to go back and think this one through. My original thought is not going to work. 

  I am just trying to figure out the best way to aquire these properties. The first deal I have with him is owner financed and if I pull all my savings I will have enuff for another. And if I do this then it will take me awhile to save up for another. I was thinking I could use that money to finance the rest of his properties. Under one loan which would leave me at a medium risk on my credit report leaving my options open as far as my # of MTG's Go. 

  Has anybody done this 

Hello BP Members!

  I Recently found and purchased a single home (Owner Financed). Once I finished this deal. I went on to my next and found one that interested me. Come to find out the owner of my last investment owns this one and four more. 

 He was skeptical about this being,  a non traditional way of purchasing property through a lawyer and such. However he closed with me under our agreed terms.  But now I found out that he has these other properties and I am looking at my options. The owner stated to me that if this one goes smooth he may entertain another. My thinking is if I could get qualified I could offer to buy all of them at once for a better buy

  I would like to purchase all of his properties under one loan. Has anybody done this type of loan what kind of loan is this and what is the up side and down side to this type of transaction is it a bad idea?

  Here is the situation I am buying rentals where Iam the property owner manager and He has been the Owner/Manager and wants out of them he's retiring and wants to move, travel and such. And doesn't want to be held down.

Well Congratulations ! 

  I like your comment on the 9-5 I have been running from it for a long time. I just had my birth day and realized that the 9-5 isn't so bad. In my short live span I started working when I was 14 with my grandfather, during the summers. I was motivated and didn't like school cause it was to much like a 9-5 job. I enjoyed working with grampapy.

 Later I joined the Marines and proud of it served 8 years. While in the corps I had my first and second child, Way more than a 9-5 full time all the time. I decided to go back to school to better my self  and my family. To become an Officer in the Marines. Marines full time, Family full time, School full time. It was like having 3 full time jobs. I gave it all cause I wanted it all.

  Well in short, My wife found some one else, I dropped out of school ( couldn't Make the grades) Got forced out of the Marines. Decided to move to Hawaii found a job 7-4. Loved the ocean hated the bills. Moved back home Started a Company in contracting. Did fairly well for 2 years. But It turned out to be 6-8 hour job. Yes 14 hours a day doing estimates and payroll for 20 Employees. And managing Projects, Not to mention being a single father of two.

  So Now I have a job, I leave home for 2 weeks and work 14 hrs every day. Go home for 2 weeks on my days off I find my self looking for properties around the country on the internet, crunching numbers and or working on the properties that I currently have 6 to 10 hours a day, Either my self or managing contractors.

  Here is what i have found. Life is 9-5 no way around it. So the trick is to find something that you enjoy, love it and live it. Happiness is key, money can not buy it and it is hard to find. Even if you lived off the grid and off the land just to gather food is at least a 9-5. Living on the streets homeless is a 9-5. Being a stay at home parent is more than a 9-5.

 So my conclusion is any thing you do is going to be a 9-5, searching, buying, flipping and managing properties is no different. You worked hard to get where you are today. And you are going to have to work hard to get to where you want to be in the future. Just try to find the happiest route their.

 Just for those who are wondering I am happily remarried and all my children live with me. I do have a full time job. Which I love the people I work with and I enjoy managing and flipping my properties. So I guess I am successfully happy. Just not rich.

 I do want to say thanks and good luck to: Nathaniel Parr and fellow BP Members

    P.S. What ever you do Enjoy it and love it. Cause if you don't then you will hate it!!!

Thanks Gerald and Anthony

  Iam fairly new to BP, and the community here is great. I want to say thanks for the quick reply. I did not know that the house would be put in my name or a lean to be placed on the property to protect the seller.

 I do have another question where should I go to have payment made through a third party or do you just make payments to the seller.

 I am looking at a home for sell by owner and the owner is offering owner financing. I have not been in the home yet I will be looking at the property next week. If every thing looks good to me I will have the home inspected. 

  My situation is I can not get traditional financing at this time. So I have been looking at for these types of investments for a while and have not found one that suites me until now. 

  My question is if every thing looks good and I decide to move forward, What do I need to do to protect my self. I have never done this type of transaction before and I am nervous and skeptical of this process. Example what if I make payments to owner/lender and upon final payment they decide not to deliver deed. I have realized that i do not know enuf to move forward with confidence.

 What are the do's and dont's? And what should I do first.

To: fellow BP members

    I am new to BP and so far so good! I do have a question re guarding this subject on "subject-to" the existing mortgage. Would this be the same as lease or rent to own.

  And what does the signed Deed do exactly? And what is the signed power of attorney for? Would this be a Special power of attorney, and what should it consist of? Who would I contact or deal with for this type of transaction title company, Real Estate Agent, Owner?

 This is a very interesting subject. And I would like to learn more about this type of transaction. 

  Thanks Fellow BP member!

 Ok,

  How can I make this happen and what steps do i need to follow? Do I go through the bank or straight to the title what do I need to ask or bring to the table. Does the house remain in the owners name or does the title or deed get transfered to my name. Where can I research more information on this particular nitch. Any info would be great. Your comments are very helpful.

    Thank you guy's very much from one investor to another.