All Forum Posts by: Alexis Zion

Tom 

What's the name of your company?

Hey Gang 

I am looking at purchasing a 4 unit building or larger in South Carolina

Any have any suggestions on the range of price I should pay, what are things going for out there

Any suggestions of area I should stay away from

Any suggestions of areas I should focus in on?

Thanks

Hello

Does anyone have good suggestions for property managers in Milwaukee area?  

Hi All

2 Questions 

#1

I am meeting with a potential seller tomorrow to talk about buying her 4 units building. I am going to ask if she is open to financing me with a 5-10% down payments

She is going to ask me what that entails...

I want to talk intelligently about how the process of selling financing works and the people who would be involved. So my question is What are the steps and who is involved in seller Financing?

Step ?

1. Agree on a Price

2. Sign Contract (not sure which one)

3, 4, 5, , and 6

I have no clue. Details please

Please tell me what to say so I can speak confidently.

#2

Also , if you have other ideas of how I could structure a deal like this...let me know 

Thanks

P.S. Who would be some 3rd parties that could collect/process the monthly payments and send it to her, and end of the year statements. All that Detail stuff 

Hi All 

I am meeting with a potential seller tomorrow to talk about buying her 4 units building.  I am going to ask if she is open to financing me with a 5-10% down payments

She is going to ask me what that entails...

I want to talk intelligently  about how the process of selling financing works and the people who would be involved.  So my question is What are the steps and who is involved in seller Financing?

Step ? 

1.  Agree on a Price

2.  Sign Contract (not sure which one)

3, 4, 5, , and 6 

I have no clue.  Details please 

Please tell me what to say so I can speak confidently. 

Thanks

P.S.  Who would be some 3rd parties that could collect/process the monthly payments and send it to her, and end of the year statements.  All that Detail stuff 

Hey Gang

I need you help really bad... Tomorrow I am meeting with a potential seller. I was doing some marketing and she called in and said that she really want to "get rid" of her 4 unit building

We live in Wisconsin...

What form do we use to write the offer ? And where would I find it?

Hopefully we will agree on a price, so I want to be prepared since the seller lives 2 hour away and is coming to meet with me and look at the building.

Please let me know what form I should use.

Thanks

Hey Gang

I need you help really bad...  Tomorrow I am meeting with a potential seller.  I was doing some marketing and she called in and said that she really want to "get rid" of her 4 unit building

We live in Wisconsin...

What form do we use to write the offer ?  And where would I find it?

Hopefully we will agree on a price, so I want to be prepared since the seller lives 2 hour away and is coming to meet with me and look at the building. 

Please let me know what form I should use.  

Thanks

Hi! I'd really appreciate any and all advice on this topic.

I have found a property I'm interested in. It is an MLS listing that has been on the market for over 300 days. The seller owns it outright. After making several offers, the seller said he will only go to $155,000 (from $167,000 asking price). I think the value is closer to $130,000. There are two realtors involved (his and mine).

Our previous offers were using conventional financing with 20% down. For my final offer, I'm considering asking for owner financing to allow me to meet my cash flow goals while not putting as much of my own money into the down payment. I'm willing to give him the price he wants for the terms I want.

I'm thinking of a $15,000 (10%) down payment and 2 years of principal only payments followed by 3 years of principal and interest at 4-5%. After 5 years I would refi through a commercial lender and pay the seller out in full. This would be my first owner financing attempt.

A few questions:

How likely is it that he will accept 2 year of principal only payments?

How would you structure an owner financing offer?

Any suggestions about communicating through the agents to the owner? 

Who would handle the payments over the next 5 years?

Who would close the deal?

What's a good back up plan?

Is there a calculator for this idea?

Thanks in advance for your help

Hi!  I'd really appreciate any and all advice on this topic.

I have found a property I'm interested in. It is an MLS listing that has been on the market for over 300 days. The seller owns it outright. After making several offers, the seller said he will only go to $155,000 (from $167,000 asking price). I think the value is closer to $130,000. There are two realtors involved (his and mine).

Our previous offers were using conventional financing with 20% down.   For my final offer, I'm considering asking for owner financing to allow me to meet my cash flow goals while not putting as much of my own money into the down payment.   I'm willing to give him the price he wants for the terms I want.

I'm thinking of a $15,000 (10%) down payment and 2 years of principal only payments followed by 3 years of principal and interest at 4-5%.  After 5 years I would refi through a commercial lender and pay the seller out in full.  This would be my first owner financing attempt.

A few questions:

How likely is it that he will accept 2 year of principal only payments?

How would you structure an owner financing offer?

Any suggestions about communicating through the agents to the owner? 

Hi Gang

Does anyone have any recommendations of Good property mangers for Milwaukee Wisconsin that can handle an 4 and 8 unit building

The most important quality =

TRUSTWORTHINESS !!

Please let me know who you know

Thanks