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11 February 2025 | 5 replies
Quick question on those who have done seller financing:- Buying a 0.3 acre downtown fort lauderdale multi family, negotiated an around 1M price w lot of development rights, double lot. seller got it way back early 90s for pennies- got good credit 800+, w2 job etc put 40% down and mortgage bank offered 6.62% 30yr fixed (CF negative as this would make current rent roll not too much compared to the PITI)- property is in ok condition, needs 20-30k repairs which seller OKd, and all 3 tenants are month to month, pay bit under market but also ok- seller would like to do seller financing, interest only at 5.75%, 30yr amortization at 7yr balloon (CF would be positive) - id be paying some principal as well, just to grow some equity- buying this deal for the future development of the area (las olas, kushner broward crossing) so not really worried even if we overpay for it now, but never done creative finance as i always relied on a strong W2 job to get good loans but obv im used to 3% 30yr rates from covid times not this 6+ environment..Goal is to hold the property 3-5yrs, and then actually develop it or sell half the land / refinance, pull out HELOC if it appreciates.Questions:1) What does he know that i dont?
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10 February 2025 | 2 replies
I used Asana as well
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7 February 2025 | 14 replies
Major difference between working with market renters and tenant assistant programs as well.
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10 February 2025 | 4 replies
Personally, I invest in properties in C-Class neighborhoods in my market (East Linden and Southern Hilltop), and they’ve been cash-flowing well so far.
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12 February 2025 | 5 replies
North MS is a great option as well!
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7 February 2025 | 11 replies
From what I’ve read for the NC law as well as what is written in the contract states that late payment in a violation and eviction is enforceable.
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12 February 2025 | 11 replies
They started advertising some of their properties on my Investment Properties For Sale Show, and I have liked working with them a lot as well.
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10 February 2025 | 62 replies
Ryan, I appreciate your insight as well.
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3 February 2025 | 24 replies
@Brandon Pimm my friend and I are in jersey as well looking at Allentown as potential first rental property purchases.
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7 February 2025 | 6 replies
Austin's real estate market is challenging but rewarding, and you're well on your way to success.