Ricky Knack
My costs in buying a home in pre-foreclosure
Let me start with saying I'm really enjoying all the helpful information out in BiggerPockets land. I was wondering what costs are associated with buying a house in pre-foreclosure vs a house not in pre-foreclosure. I...
Nick Zinner
Family and Friends interested in investing into company!!
Hey Bigger Pockets Community,Recently I had some friends and family members approach me on investing into my REI LLC. Long story short, friend A wants to invest $10k into my business, family member B wants to invest $...
Matthew Haskins
Structuring Buy w/Contract For Deed when Seller Has a Mortgage
I am looking at purchasing a property using Contract For Deed while the seller still has a mortgage on the property. This would be my first Contract for Deed transaction so I have been taking tips from others in my ar...
Andrew Jones
Refinancing a Note
Hello BP,
I purchased a 5+ unit property in the past year where the seller carried financing and he currently holds a note. He contacted me seeing if I could cash him out and he would agree to reduce the principle of...
Michael P.
Couple Owner Finance Related Questions
I have a couple questions hopefully someone on here can answer one or both.
1. I recently sold a house that had a first and a second note I made to the buyer. The second was due and she paid off the principal howev...
Patrick Jacques
Foreclosed with unpaid balance
While looking at properties I'll come across a property that says "foreclosed , unpaid balance of $ ". What does this amount mean? How is the unpaid balance taken care of? By who?
Mike H.
Do any agents or builders selling new construction STRs include proformas?
As a somewhat new GC here in Sevier county, I am building to hold and building to sell. The market for sales has slowed down considerably here. But the margins are still there if you're willing to price these right....
Nate Bartlett
Recording a mortgage on seller finance deal.
I'll keep this short. I'm purchasing a property from a fried in Illinois (Cook County) using seller financing. Purchase Price: $54kDown Payment: $10k at closing, $3k in 6 monthsTerms: Remaining $41k amortized over 30 ...
Rich Hupper
Foreclosure and Medicaid
The subject of medicaid and real estate continues to elude me. I have yet come across another deal where the decision maker is in the nursing home and someone wants to buy her house. To complicate the matter, her hous...
Gordon F.
How can an investor bid on their own foreclosure property?
Let’s say the worst case scenario has happened, and now you’re at the auction for the property you had to foreclose on. How can an investor afford to open the bidding at the price of the UPB and costs? If you win, d...