All Forum Posts by: Conrad Z.

If your buying in Arizona check out AZbidder.com. You can do title searchs, get drive-by reports and other good stuff. Tell Debbie I said "hi"

I can vouch for @Alex Craig, with MempisTurnkey. Top-notch communication (which is huge when you live across the country) his team is solid and they walk the walk being investors themselves. Most importantly I can count on an honest response as far as neighborhoods to invest, contractors, or any other "inside" info coming out of Memphis. PM me if you want details.

I'm considering everyone right now. There seems to be alot of these SDIRA companies popping up right now with the stock market hammering peoples IRA's. What is Karens last name? I will give her a call. Thanks again for the list.
My BAD!, I see Aaron already has her name up top

HI Josh, site rocks as usual. How about deleting users that have been inactive for a year or more.
I know you dont like the membership numbers to go down but it would make for alot less clutter in the members area. I've tried to get in touch with a few people my zip code and never received responses. Just a suggestion and once again this site is by far the best!!

Bryan, great list that I will be monitoring.

Has anyone ever heard of or used Safeguard Financial?

Check out [AD LINK REMOVED]
Pretty straightforward advice on setting up your paper properly so u can sell it later.

Do NOT do this yourself!!
Always go with a pro who knows your State laws

I'd jump all over that! Very little risk and potential for huge reward.
This is allowing you to see the whole process in the real world and not some of that "guru" junk that is always flying around promising the world.

Thanks for the replies everybody!
I'm not looking to hose anybody, these are actually numbers (2) realtors gave me and being a newbie I felt like I was working for the MOB.

FinanceExaminer. I purchased the house cash at the Maricopa courthouse for 60k and could easily flip for 75k netting 10k after light rehab (the house is in awesome shape) but I was looking for other options instead of just flipping houses like crazy (I live 4hrs away)

MJD - I thought the downpayment was steep myself but lots of these people can come up with this because they have not made a mortgage payment in 12-16 months and finally walked away from a house they were too far underwater on.

I figure with 3 years on the loan term they could fix credit and refi.

The way our government and banks are acting they are porbably just going to forgive everyone for past debts anyway HAHA!

Thanks again for the feedback everyone

I'm considering owner financing on a house I purchased at the trustee sale in Phoenix for 60K

Using a sales price of $100,000 with $20,000 Down and an interest rate of 10%. I should get roughly $12,500 back after closing costs. So I really have only $47,500 of my money in the property. $60,000-$12,500=$47,500
I have now created a debt owed to me of $80,000.
When they refinance in 3 years I will make an additional $32,500. They may refi that much sooner but I am being conservative. Meanwhile my $47,500 that I have invested is making an interest rate of 16.84%. We get the higher return because I'm getting paid 10% on the whole $80,000. Total payments for the 3 years are $24,000, if I do interest only.

Does this look correct. Benefits/Pitfalls??

I know the house is emptyy so I'm good there.
Its in a good area and the homes are all kept up quit nice. I know it sounds crazy for a foreclosure but the house is almost turnkey.

I'm thinking nice new stainlesssteel applicances and a cleaning and I'm good to go. How far do you take the staging?

As for a top quality agent what do you guys consider a reasonable commission? Some of these agents are all over the board as far as what they think they can get for the house so I dont want to get sucked in to one promising the world and still sitting on this 6 months from now.

Thanks again for your help.