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All Forum Posts by: Scott Shafer

Scott Shafer has started 6 posts and replied 14 times.

Bill Gulley,

I have been looking at a few different possibilities two of which have not worked out. !st was a 5 unit property and 2nd was a 8 unit apartment property (seller excepted an offer 3 hours after hitting the mls).

So the question is dependent upon me finding the deal where the seller will finance and I can find a creative way to come up with the down.

The most appealing that I have seen is an equity split 50/50 on monthly's and on the exit of the property. BUT my question with exiting is when and & how to get this all in writing with the equity partner. I have never done it so I don't know what industry standards are but I do think I can find an equity partner if the numbers work for them.

Thanks for replying @Bill Gulley, Robert Lapp Steven Johnson

Any thoughts?

I am interested in buying a small multi-unit property with seller financing to get started with cash flow properties. Can anyone recommend strategies for financing the downpayment of seller financed properties. My market is San Diego.

Post: Wholesaling a MH Question. Please help!

Scott ShaferPosted
  • Inland Empire, CA
  • Posts 15
  • Votes 1

Thank you for the cooments and help. The mhp is a family park. I called him to get the address and will be pulling the comps on the park. Dale I will pm you when I get to my laptop. I am responding to this thread via my phone.

Thank you both!

Scott

Post: Wholesaling a MH Question. Please help!

Scott ShaferPosted
  • Inland Empire, CA
  • Posts 15
  • Votes 1

I am new at wholesaling and have been searching for a motivated seller. I came across a guy in North San Diego County where I live that is moving out of state and asking 85K for his mobile home and says it is worth 186K and some change based on the sales of others in the mhp. He owes 71K. Is there any reason I should not quickly try to get this under contract and flip it to a cash buyer? The 100K spread looks good to me. Can someone help me to understand what I am not seeing or should be careful about?

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