Preforeclosure owner finance wrap, paid off the default payments and taxes with cash and assumed the owners loan.

Hi Garry,To ensure your safety, it is highly recommended to visit areavibes.com and select the "See more crime data" option.

Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.

Whether you’re dealing with non-payment of rent or other lease violations, this resource explains what landlords need to know to remain compliant and protect their investment. 

This will affect things like required down payment, rates, and even which lending institutions would be willing to finance. i encourage you to look up warrantability for financing just so that you don't have surprisses when your 20% down buyer cannot finance that way.

Have never missed a payment to investors.

Investor’s deposit will be used to make interest only payment for construction loans.

It’s a lower risk strategy since you’ll be living in one of the units, and you’ll qualify for low down payment loans.

@Robert StephensonIf you have enough equity in your primary or rental you can get a HELOC or HELOAN and use the proceeds as a down payment to buy another rental.

Preforeclosure owner finance wrap, paid off the default payments and taxes with cash and assumed the owners loan.