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? 

It is how I and the actual form that the underwriter would use lays it out.

For structuring your business, consider whether you actually need an LLC or if umbrella insurance might be a simpler alternative.

I actually had this account from years ago, before my Realtor days and before my mortgage lending days.

I would like to start connecting with lenders, attorneys, realtors, title companies, and all other professional in the SATX commercial real estate market.  

Happy to serve as a resource if you have any questions about the local market.

I actually just finished reading his book and was surprisingly disappointed for a couple reasons.

LeadZoloMotivated SellersProperty LeadsWould love to hear if these have actually led to solid deals, what the lead quality is like, and if they’re worth the cost.

My question is how to I do my taxes do I add the vacant property and closing costs or should wait until next year when there’s an actual building?

Since the cost seg study would just create an even bigger loss, it might not actually help you this year if you don’t have taxable income to offset.But here’s the part a lot of investors forget to consider—if you’re planning to buy another property this year, this loss could affect your ability to get financing.