All Forum Posts by: Caleb Math

Ok, so it does free me up to seller finance; possibly at a higher interest rate? So in theory I could sale the place for x amount down, and owner finance the loan I have at 5% to someone else at 8%? Is this accurate, also are there any other advantages? I'm sure your right about first position, and that is what I'm wondering about - what does not having a due on sale clause profit me, anything? I just told my lawyer to make the loan transferable because I knew that would make it easier to sale. We were in a hurry so I didn't get a good understanding, really just heard him reference it and say he took it out.

I just bought a set of Self-storage units. They cashflow well, but it was an interesting deal.. I was able to negotiate the due-on sale clause out of my financing (owner finance)- 5% fixed for 20 @1.1m . Help me figure out what this opens me up to please. Can I outright sale the property completely and collect the money and reinvest the capital in another investment and all is well if I keep paying that original note?

it's not, it's a stick traditional home on a raised foundation 

Hey folks, I'm new to BP (first post). I have a opportunity coming up to move a house onto a nearby piece of property I own. The house is 1200sqft 3bd/1bath, it's fully updated (kitchen and bath) has hardwood floors, new Hvac, vinyl siding, metal roof, and windows all within the last 2 to 3 years. Also, the inside is immaculate. It is currently on a commercial piece of property and after getting quoted to move it for 11k I got the house under contract for $7500. 

I figure I'll have around 25-30 in it once it's moved and completely hooked up (septic, water, crawl space, Hvac, electrical, etc) my county has a 250.00 septic fee and a 75$ building permit fee for moving the house. I am really trying to think through the situation and get in front of any problems that might arise before the move. Any suggestions would be much appreciated! 

Here is some extra info...

The house movers have assured me that this will go smoothly, as my farm is connected to the commercial property and they are only moving it 500 yards or so (no power lines etx). They say I should only have hairline cracks around the windows and doors that are easily fixed. I have called many other house movers and this seems to be the norm apparently, I would have thought there would be more damage. I am taking the Hvac and everything else of value as well. I am digging my own septic (which is allowed where we live) and am wanting to dig my own footers but am a bit weary of that, so I am still thinking that through. 

Anyway, any help is much appreciated.