All Forum Posts by: Matt Crusinberry

Dan, then stop! You're wrong, and you cannot admit it. That's fine...

@Wesam Maaiah, I think you're moving in the right direction, and that you should continue to learn as much as you can and save while doing it. I would also recommend you visit your local REI groups and seek out people there. In regards to running numbers, BP has a great calculator that you can use to help aid you in figuring out your numbers. However, I think if you want to use theirs more than 3 times, you must be a paying member in some fashion. I also have one that I created well before BP brought theirs online. I would be more than happy to share it with you. It's an excel spreadsheet, and although it's not as sexy (if you will) as BP's, it still produces the same out come. Hit me up if you have more questions, and I wish you the best of luck!

Daniel, thank you for your great detective work in eliciting information via your statement to Gino, "Sounds like you're confused. Most mortgages have due on sale clause's that would call the note due upon sale of the house so did you really buy it? He wouldn't be able to sell the house to you without paying off his loan..." That's exactly what it sounds like, you trying to get more information. Also, I am not making an assumption, I am straight up calling you a liar.  I was giving you the option to be honest, you failed. However, thank you for your brief definition of "assumptions" though. Than you have the audacity to accuse me of doing the very thing that you're doing. Even in your last statement to me, you make an assumption, "...suddenly you think..." I don't think, I know it doesn't apply to all. Maybe if you continued to read the article I sent you, it talks about it. Thus, even by default, this wouldn't be the case. FYI

And No Dan, I think you didn't know, and again you're welcome for sharing that with you.

Daniel, just because Gino may not be familiar with the strategy, it could very well be one of the options that was utilized. I was merely suggesting that you were putting the cart before the horse in saying you can't do that. And although he may not know it, the individual that he bought it from may have, or one of their attorney's. I completely disagree that it was rare during the time they bought the property. I know several people that have used wraps before, during, and after 2012 (and I don't know that many people). I think you're the one that is assuming now, and it's obvious that you made an assumption earlier as well. Also, you're welcome for the new info on Fannie Mae (I read the article, which is why I put it there for your viewing). Your response suggested you were not familiar with it. Thank you for giving the date it took affect as well. Again, that's why I put it up there, so you can familiarize yourself with it.

@Daniel Hennek, you may want to do further research on "subject to's" and "wraps." Many people are using these type of strategies to further their portfolio, and I believe this is what Gina is referencing. You also may want to look into what has recently changed via Fannie Mae in regards to the "due on sale clause." Good luck!

Gina, I would say that it depends on several factors: your goals, your current payment, your ability to acquire a loan, new payment and rate, and any other item that you can think of that will affect your overall outcome. Once you can answer some of the basic questions for yourself, than you should be able to answer this question as well. While this is not a definitive answer, I hope it at least gets you thinking as you move in the right direction. Good luck!

@Warren Sawyers, I agree with @Wayne Brooks on this. Also, you'll have more options financing one as well. Good luck!

@Jude Renois, To find good deals you will have to put in the work. I would start by researching biggerpockets' forums. You'll be able to see that this question has only been answered a million times, and asked a million more. Buy some books or swing by your local library and sign them out. Watch the video's on Youtube that BP and other's are constantly putting out, or listen to the hundreds of Podcasts that investors have. Visit your local REI meetup and start networking. Again, you must put in the time, and good luck!

@Account Closed, You can make several offers with different terms (i.e. giving the sellers options to choose from). Good luck!

@Account Closed, I have the same question as Wayne, why would you? The answer to your question is yes. You can contact the seller and raise or lower your offer. You can do this every 30 seconds, 5 minutes, or everyday. I doubt that you'll be taken seriously, but you can essentially continue to contact the seller until they block you I suppose. I doubt a realtor will continue to do it for you, whether they work for you or them. I'm still not sure what you're after?