Mortgage stays in seller's name but is paid by the buyer through a promissory note (aka contract)Mortgage Balance: $102,000 Interest Rate: 4% PITI: $531/monthSELLER FINANCE PORTION: Seller Finance: $300/month to seller for 53 months (4.4 years) = $16,000 Total House Payment: $831/month (PITI + Seller Finance)NOTE about CLOSING and seller: Seller would like to remain in the house until November 12th, 2024.

So, in Florida there beneficial but there going to be bought and payed for by the homeowner (you). 

Start by reading the Ultimate Real Estate Investing Guide: https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction2.

Originally posted by @Jay Hinrichs:Originally posted by @James Wise:Originally posted by @Kayla V.

Originally posted by @William Allen:@Mike A.Welcome to BP, I recently moved to Florida from Lexington Park, MD so I know that market pretty well.  

I am fairly certain no longer needs funding, but for any others that stumble across this post since it has been resurfaced, you need to know that Unsecured Borrowing is not allowed by any traditional loan options (fannie, freddie, USDA, FHA, VA). 

I have goals of obtaining enough MF property to replace my current career by the age of 50 (I'm actually shooting for $6K/m by November of 2026 because, why not?)

By leveraging market knowledge and strategic partnerships, we turned a modest investment into a profitable transaction.

We usually have 1-3 jobs going on at any point in time and I try to swing by at least every other day.

Builders risk, general liability, etc. are all purchasable by the owner.