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5 August 2022 | 31 replies
For instance, you could agree to cancel some of their outstanding debts, and/or you could make it clear that their security deposit will be withheld if they don't leave under your terms, and/or make it clear you will file a lawsuit to recover the money they owe you if they don't meet your conditions, and/or get a collection agency involved, and/or you can make it clear there will be an eviction for non-compliance with the contract (among many other methods)...I would also suggest reading up on cash for keys, and seeing whether that strategy could work...talk to the tenant to get an understanding of why they are staying, what things would prevent them from leaving, what things would incentivize them to leave, etc. ...ultimately, you need to create a new agreement (in a new contract), where the option of leaving and abiding by the terms of your new contract is MUCH more appealing to the tenant than the option of staying and/or violating the terms of your new contract.
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5 August 2022 | 13 replies
Your offer is Conventional rather than FHA, meaning more appealing to sellers.
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3 August 2022 | 3 replies
@Nathanael Tinaya when looking at a historic home you'll want to call the town to see what renovations you can and can't do on the property, some of the rules that govern historic properties can be limiting in certain instances and can hurt you bottom line (ie. having to replace a slate roof) or ARV (not being able to update curb appeal or add central heat or air).Also with the seller finance portion make sure the terms don't ruin your deal, the balloon payment can wipe out your profits for years to come if its too high for instance so you may want to double check that the terms of the deal really make sense and to ensure you can cashflow for years to come with whichever method you choose
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2 August 2022 | 2 replies
. - FSBO - owner offering financing: 20-30 years at prime +2% and 15% down - owner financing appeals because I don't have W2 income so I won't be able to get a conventional loan, though perhaps could get a debt to service loan since it is a rental property- Renter in the property, owner says they are a great tenant, currently paying $1500/month, tenant covers all utilities.- According to owner, in very good condition, no major repairs, newer roof and AC, recently painted.
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17 August 2022 | 1 reply
. - FSBO - owner offering financing: 20-30 years at prime +2% and 15% down - owner financing appeals because I don't have W2 income so I won't be able to get a conventional loan, though perhaps could get a debt to service loan since it is a rental property- Renter in the property, owner says they are a great tenant, currently paying $1500/month, tenant covers all utilities.- According to owner, in very good condition, no major repairs, newer roof and AC, recently painted.
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3 August 2022 | 3 replies
I plan to appeal but as an out-of-state investor, it is very challenging.
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19 August 2022 | 4 replies
So, I would love to connect with real estate agents, cash buyers and wholesalers, as well professionals (contractors, photographers, handymen, property mangers) that work with investors in these areas.Thank you for your help and best of luck to everyone.Leeor
5 August 2022 | 5 replies
Have you read this: https://www.biggerpockets.com/...While I understand the limited liability aspect is appealing, its not always necessary.
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7 August 2022 | 20 replies
Doesn't sound like a "B" from the way he is describing.Personally, I can see wanting a better location and better setup, not every bargain is appealing.
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4 August 2022 | 1 reply
Remember, you're trying to appeal to the masses.