This video explains exactly what happened with those two properties: http://www.youtube.com/watch?

holding seller's second mortgage? i have offered 100% financing with a 650 credit score but the buyer has asked would I "hold a seller's second mortgage."

is it necessary to inform seller you will be assigningcontract, and if so does anyone have a diplomatic way to explain.

well first i wanted to say that im going to visit my first property this weekend and without the help of this forum i probably wouldnt even be thinking about looking at actual properties. espcially thanks to ryan for anwering about 10000 of my questions.so the property is a 4 plex with 3 units already rented out. its gai is aprox 16800 ... and the property is only 65000. tennants all pay all utils. i thought it sounded to good but when the seller explained it seemed to make sense. he selling all his real estate to buy his 2nd bar which he says he enjoys running more and hes pretty motivated sell this property to get some money available for that. also apparetly the property is pretty ugly but i see that as a good thing because hopefully with some cosmetic changes i can add some value. so my question is what are the ups and downs to ownerfinancing. my other question is if seller financing could show anything about the sellers intentions, would a seller have any reason to or to not seller finance a problem property or money pit.. like would he benefit from me foreclosing or is there any reason some one wouldnt seller finance a problem property. ahha hopefully my queestions make sense but im not sure they do. thanks for everyones help!!

Could some one explain this to me, please?

I explained to him that I sell at a discount so I don't have to negotiate.

The guy was super thorough, spent 4 hours in the house, let me walk with him as he inspected the house (I hear EPTX inspectors are very prissy and don't like to be followed through the inspection) and explained every little thing as he saw things.

Most REOs get listed with local agents and will appear on the MLS.Troy has explained how his firm sees portfolio of REOs before they get listed but the window between when they see the inventory and when the bank moves it to a conventional channel is not that long.

Specifically state what you are doing right now to get it re-rented and explain that you are moving as quickly as possible to mitigate the costs and damage to all parties involved.

But some people said to take out 45-50% for "net operating income" (out of the income profits) but didn't explain if that is what it is for (advertising, utilities, etc.).So, what do you consider net operating income?