All Forum Posts by: Corey Jacobs

Thanks for your feed back Russ Draper

Hi Everyone, 

I have been talking with a seller for a couple weeks now and Im about to submit an offer to him. Have a few questions regarding the deal. He has agreed to be willing to do a land contract/seller finance, but the issue Im running into is that he still has a mortgage on the property. It is less that what he is wanting to sell the property for and less than what Im going to offer. Im just curious how we can get around the "Due on Sale clause" I have mentioned it to him about that, he was a previous RE investor himself. He had mentioned that we could not record it at the court house but have a legal agreement between us. Has anyone done this? Comfortable with doing this? Also how do I make sure he is making his monthly payments on the property? Thanks in advance. 

Merlie Ciceron quick question for you on the government subsidies for rental units. We talked with a realtor of another complex. He told me that when we have government subsidized tenants that we can not make a profit. Is this true?

@Account Closed Thank you. We are going tonight to talk with the realtor. Also have another deal that is being placed in our laps. Both properties are Government Subsidy eligable

Ill be in touch once I get more details. 

Thanks Bryan Otteson Google is a very powerful tool. If anyone else is interested in learning more www.gosection8.com provides pretty good information on section 8 housing. We will learn a bit more on Friday once we meet wkth the Realtor on this property.

Hey Everyone, Been on the forums for some time now just havent done a deal yet. I am ready now and have been activly looking for properties. I am looking at a property on Friday that in the listing it says "Government Subsidy available via vouchers" What does this mean? Anything special I need to look out for? From initial calculations the cashflow is very good. Thanks for your help.

Thanks for the reply. I called him back a little earlier and he was just wondering whose "program" I was using... He wasn't even interested in selling. Oh well. Ready for the next call

I sent out 20 yl last week and got a call back from one last night. The guy left a voice mail and I plan to call him back today. This is my very first call back from a yellow letter. I'm very nervous about calling him back but yet very excited to call. Any advice on what to say? What do I tell him if he would ask how I got his name and why I picked his property?

Anyone else having problems with the BP iPhone app? I updated to version 1.1.1 and now I can't do a thing. The app freezes up and crashes. Anyone else see that?

Thanks everyone for the reply. I am going to take that information and move forward with my REI.

James Vermillion guess I should have clarified a little more I can come up with private money to help with the down payment but if I was going to continue to buy and hold I would have a hard time cash flowing enough money to repay the private money lenders. With flipping I figured I would have pay day at the end of the flip to repay them sooner and quicker.