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All Forum Posts by: Zoie Holley

Zoie Holley has started 7 posts and replied 15 times.

Post: Hard finding financing

Zoie HolleyPosted
  • Rental Property Investor
  • Columbus, OH
  • Posts 16
  • Votes 10

Okay so what do you suppose I do as young investor who doesn’t have million dollars lying around but wants to get into real estate? Wholesale? Because you’ve made it obvious seller financing isn’t the way to go.

Post: Hard finding financing

Zoie HolleyPosted
  • Rental Property Investor
  • Columbus, OH
  • Posts 16
  • Votes 10

thank you so much! This was helpful!

Quote from @Marco Bario:

@Zoie Holley, @Patricia Steiner -

2021 saw a 7% increase in the number of seller-financed loans originated. There were almost 90,000 seller-financed loans with a combined total balance of $27.3 billion. That was in a seller's market. Now interest rates are rising, inflation is high, and sellers in high-priced markets may face capital gains taxes when selling a property because of the sharp increase in property values. I remain bullish on all aspects of seller financing. 

You can read more about the 2021 stats here: https://noteinvestor.com/notes...

My advice to you, Zoie, is to ask the sellers what they plan to do with the money and if they expect to pay taxes (know the probable answer to the tax question in advance) on the lump sum proceeds. 

Older people, in particular, appreciate a monthly income. Walk them down the road of showing how their money will last longer if you were to pay them a yield around 5% vs. what happens to money sitting in the bank or a money market account earning 1% if they're lucky. 

Tired landlords also appreciate a monthly income that comes without tenants, toilets, and trash-outs.  

On the topic of taxes - an installment sale (IRS term for seller-financing) can defer and possibly reduce capital gains taxes when selling a property. Read IRS Publication 537 to learn more. Understanding the tax code (don't give specific tax advice) is very powerful in real estate.

Hang in there! 

Post: Hard finding financing

Zoie HolleyPosted
  • Rental Property Investor
  • Columbus, OH
  • Posts 16
  • Votes 10

So for the past week I’ve been diligently working to find homes for sale that I could pitch seller financing too. It seems like every single time I call they never fail to mention how they always have a cash buyer on the back burner and they want nothing to do with seller financing. I do my best to tell them the pros of owner financing and seems like I get shut down within 5 minutes before I’ve even made an offer.
It’s frustrating and I’ve been giving fair offers. So my question is how do I get past the “not wanting  to do owner financing.”How did you get your first owner financing deal? Also if you don’t mind telling me the terms/criteria of the deal that would be nice!


constructive comments only. 

Post: Subleasing in Columbus

Zoie HolleyPosted
  • Rental Property Investor
  • Columbus, OH
  • Posts 16
  • Votes 10
Yes!
Originally posted by @Marc Rice:

@Zoie Holley

What is your intention? Airbnb?

Post: Subleasing in Columbus

Zoie HolleyPosted
  • Rental Property Investor
  • Columbus, OH
  • Posts 16
  • Votes 10

Does anyone know anyone that allows subleasing of apartments, condos, etc?

Post: Wholesailing Questions first deal!

Zoie HolleyPosted
  • Rental Property Investor
  • Columbus, OH
  • Posts 16
  • Votes 10

Okay so basically I found a seller who wants to sell their home for cash, we talked about the defects of the home and I have a few questions. I'm a little wet behind the ears so please be patient with this post 

1.) How would I know what the ARV is? he told me all the work that needs to be done so would I just add that to his asking price to get the potential value?

2.) When I check out the house next week should I find a contractor to come with me? 

3.) Let's say I'm willing to put the house under contract, where do I go and how do I do that (referring to paperwork) do I go to a title company?

4.) How do I find investors? (I have any idea, but just wanted to know everyone's input) 

5.) How would I approach the investor or how would I make sure they don't go behind my back and kick me out of the deal?

6.) If I find an investor willing to pay the price, where do I go from there? Do I sign over the contract to him?

You don't have to answer all the questions but it would be greatly appreciated :)

Post: Wholesaling beginner tips

Zoie HolleyPosted
  • Rental Property Investor
  • Columbus, OH
  • Posts 16
  • Votes 10

To raise capital before I can start to buy and rehab homes. I just wanted to know any tips that I should take as I start this journey. Anything that I should be aware of. So far I've been searching to find distressed homes by posting on craigslist, asking for tax delinquencies, and driving for dollars. What other ways could I possibly find people wanting to sell their homes? How long did it take you to do your first wholesaling deal? Would love to speak with someone that has already been doing this. I'm not 100% confident in myself so I'm looking for someone that can walk me through the process and give me insight into what I should expect. Thank you!

Post: Buying first mobile home

Zoie HolleyPosted
  • Rental Property Investor
  • Columbus, OH
  • Posts 16
  • Votes 10

@Brenden Mitchum

Great thank you!

Post: Meet ups in Columbus, Ohio

Zoie HolleyPosted
  • Rental Property Investor
  • Columbus, OH
  • Posts 16
  • Votes 10

My mom and dad are getting into real estate and she lives in the Columbus area and I’ve been asking around to see if I could get any info on meetups or even group chats? :)

Post: There hasn't been a new post in a while... what's everyone up to?

Zoie HolleyPosted
  • Rental Property Investor
  • Columbus, OH
  • Posts 16
  • Votes 10

@Andy Pham

Are there currently any meetups in town?