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17 April 2024 | 3 replies
She will get each beneficiary to sign off on allowing this to happen, lessening their inheritance cash-wise but keeping the family in a home.My idea is that the trustee daughter could purchase the home, but could do so instead through a sort of owner-financing where the Trust finances the asset to her directly rather than buying it in full at great cost and taking out a mortgage on an already paid for property:- Property is in Trust and is fully paid off,- Trust finances the property to Trustee for closer to market value, and payment can still be set at 1500- No/less down payment required- Any interest rate, maybe 0- Tenant family makes rent payment of 1500, which pays off the property and pays into Trust- Beneficiaries' % share accrues gradually as payments are made- Set future balloon payment if necessary (if Balance required at a certain time, for college, etc.)This would decrease the out-of-pocket cost for the Trustee purchaser, and increase the amount that each beneficiary will receive (eventually).I have no Trust experience, though, and I'm hoping to hear from the experts.
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16 April 2024 | 8 replies
Subs have no contractual privity with the owner.
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16 April 2024 | 11 replies
I wonder how everything works between property owners and property management company?
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17 April 2024 | 2 replies
I have some experience in wholesale transactions, but given my licensing and current circumstances, I'm leaning towards listing distressed owners' homes instead.
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17 April 2024 | 3 replies
Thus, when the loan comes due, the property could easily be worth less than the loan amount, leaving the owner with very few options, none of them good.
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17 April 2024 | 6 replies
The numbers on the deal are below:-$6100 PITI (5% down owner occupied)-$2600-$2800 monthly rent per unit-Off market deal near Richardson High School-Both units fully renovatedI would essentially be betting on the long term appreciation of the DFW real estate market as well as long term rent growth.
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14 April 2024 | 6 replies
The buyer is proposing 60% down and 40% owner finance.
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17 April 2024 | 1 reply
Heres the situation:The property currently has tenants, the owner has told the tenants that he is selling the property and they will have to move out.The tenants asked if they could stay till the end of May.The already have a place they are moving to, they just can't move in till June 1Very reasonable, the tenants seem like they will not cause any issuesI would like to hold 10 or 15k in escrow until the tenants move out, I just dont know how to word that on a Florida offer/ contract.Any help would be great!
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17 April 2024 | 18 replies
I’d ask the current owners to carry back a mortgage, say you make a down payment and agree to pay them 5 or 6%.
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15 April 2024 | 33 replies
The only investors we know that have success with Class D rentals are hands-on owners, that drive by their properties 2-3 times each week.