All Forum Posts by: Gary Ytreeide

People that buy using owner financing usually do so because they can not get other financing. All they are interested in is how much down and how much a month, until tax time, then interest payments become important. Sellers provide owner financing usually because no lending institution is willing to finance there trash. Unless your a flipper why would you want it, but then I digress. Another reason a seller is willing to finance is income, and let's face it, too many times the seller will get the property back.

I use quick books. But you need t know some basic accounting. As far as device, use what is handy, i.e. Desktop, laptop, etc.

It is good to keep your business account set up separately from your personal acct. however with a good software package such as quick books by intuit you do not need to have a separate bank account for each property. In fact I strongly recommend you do not have a separate account for each property. You should also be looking into doing your real estate business under a dba or setting up a LLC. If you don't have any accounting exp take a course

I used to go to the courthouse when they have tax sales but never did find a good deal.  What looked like a good deal initially usually got bid up to the point where it was questionable.  I know your looking for success stories but I will be surprised if there are very many.

Really appreciate your write up on this.  One thing I would like to know is what was the holding period, i.e. from closing to closing?

Pearl He

you really have only a couple choices - Conventional loan from a bank or CU or Mortgage Brkr or what they call a Hard Money loan from a private investor.    Conventional is usually 20% down, sometimes 25% down. Interest rates are usually a little higher but you can usually get up to a 30 yr loan keeping payments down.  Hard Money I am not too familiar with but there interest rates could be rather hi and most people use them for short term lending of less then a year.   At least that has been my experience.   One thing you want to do is go around to the banks and meet the loan officers and see what terms they are offering.

Katie 

I understand where you are coming from since it is the sellers that usually pay the bill.  However a good buyers agent will be worth, to the buyer, every $ he/she is paid.  Realtors are ethically bound to do the best job they can for their client and if the buyer signs a buyers rep agreement with a Realtor you are that Realtors client.  

Guy  

Thanks for the email  - would like to meet up with you when your in the area

Name is Gary Ytreeide.  I am a Real Estate Investor and a licensed Real Estate Broker in Texas.  I  have been a broker since 2007.  I am on Bigger Pockets for two reasons. First - to learn from other investors and build my Real Estate Investment Portfolio.  I am considering that some day I will get involved in wholesaling properties.  

Second - to build a client base of investors that are or want to invest in the Tx Coastal Bend area.  This does not have to be an exclusive arrangement but the investors I wish to work with are serious and committed to finding the properties and willing to work with me for whatever it takes.  I will help my client base find the deals and get through to closing. If all the stars are aligned properly I may  partner with an investor