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!!

We saw 2 choices, stop investing or find a place away from home... so far so good!

Originally posted by "Ryan Webber":What is HOA?

I didn't have a choice - but yes!

find ryan's posts on wholesaling.

Thanks for the link on that thread Ryan.

LLCs offer asset protection and are generally the entity of choice for holding real estate.Good Luck,Mike

Hi Ryan, I've been getting calls lately.

Regards,Ryan Grundy

If I were going to allow someone else to collect my rents, I would want them to be bonded.As Ryan said in another post, if you don't have the time to even collect the rent, maybe rental properties are not for you.Mike