All Forum Posts by: Zapata Tate

Thank you. This particular town has a few manufacturing companies and Freightliner just built a second facility. Its near the center of town, behind the county office and a seven minute walk to the school in the neighborhood. On of the guys at the county office informed that the city was going to be investing in this neighbor by adding parks and cleaning it up. There have been a few house remodeled already, too. My goal is building wealth by holding. 

I'm looking at a couple of BRRRR and hold properties in an area where most people rent. These are small houses on about 0.25 acres each. 6 to 8k purchase for one. Its a 3/1 with 1100, or so, square feet. 25k in repairs(padded). 650 in rent. HOLD OR WHOLESALE OR LEAVE IT BE? This place is currently held by some old school, maw and paw investor type landlords who gave me the tax value on the properties. Does this look like a good deal?

I found a property in a small town with a for sale sign tacked to it. The owners started remodeling but never finished. The owner told me that they were sidetracked by other, bigger projects... This is 2/1 mill hill house. There are no windows, no interior walls and new roof and wiring. They are asking 10k for the place (I'm thinking 5 - 8k). It needs 20 - 30K put into it. It could sale for 67K but cash flow 300 - 400 as a rental. (People in this town rent and stay... FOREVER.) This is obviously not a huge deal but is this a could opportunity?

@Tom Gimer

How should an offer be made? Is it done on paper, a form document, over the phone, in person...?

The sellers are willing to finance. Now what? How do I make a formal offer without an agent? Get an attorney? One of the seller partners was the state real estate commissioner and has me major in town for as long as I can remember. Should I be concerned about that? These guys are in there late 70's and are ready to retire, and there are four more potential opportunities with them. Please advise.

@Joe Villeneuve

Thank you. This is all very good information. I'm moving forward.

@Joe Villeneuve

Thanks for your advice, Joe. I've been reading and YouTubing seller financing and it makes perfect sense. I've been to the property with a contract and we're looking at around 15k to make some desperately NEEDED repairs...one of the bathrooms nearly needs gutting, walls must be repaired, flooring is real wood but needs resurfacing. To pair the asking price is difficult considering that at least another 15k is going to be put into it. What do you advise about that? Again, thank you.

Hello BP family. I'm working on my first deal, but I'm stuck. The owner is 78 years of age and is ready to get out (He has several properties). I'd like to try seller financing, but I'm not sure how to approach it. The property in question is occupied and has had the same tenants for years, but it needs some serious repairs. If I paid the seller's price and did nothing to the property, it would cash flow between $300 and $400. That's a minimum 20% ROI. I've heard of people walking away from the negotiation table with cash from seller financing deals... HOW? I've also looked at hard money. Should I have a realtor involved?

I am new  to real estate invest and looking forward getting deep into it.