All Forum Posts by: Yulia Kaygorodtseva

Thank you, Jaysen. YEs, financing will be under my name, but I am thinking to put it under LLC for Title. Is it the best way to do?

Hello, I am getting ready to purchase my first investment property in Dallas Texas area. It probably will be a duplex. Do you suggest to use LLC for financing/Title documents to protect my personal assets?

I have it already formed a few years back, but have not used my LLC. (formed in TX)

Thank you

Hello, the house is in Texas. The buyer came back with : $170K 20% down 7.5% 30 years 5 year balloon... I believe they will want to try and finance out of the home within 2 years...

$170K 8% 30 year 5 yr balloon 20% down

down payment = $34000.00

Loan amount = $136,000.00

On a 7.5% payments without escrow = $950.93

if I decide to accept that, what are you suggestions to watch out for? Should I hire a RE lawer to help with all the Docs? I am working wiht the realtor, so will have to pay commission 5% on that deal too. as I understand, the closing costs will be a lot less than with the regular sale, and taxes will be spaced out over years vs all at once.

One the balloon period expires, they have to refinance (so I get my all money back) or extend it.

What are the red flags I need to be aware about owner financing? 

Who pays property taxes and HOA, house insurance here?

thank you!

Forney TX! which is near Plano TX, but the market and renters are not top notch in Forney.. and a lot of Section 8... :(

Its still a seller market now in the US (Dallas TX), just trying to find a creative solution for cash flow :) renters candidates in that area are not so good

Thank you, Moe!! Do you think asking for 20% down Minimum and at least 8% interest is a good start? 

Hello, I am trying to do my first Owner finance for my house which is already paid off. I was offered 10% down cash, 7.5% interest balloon and five years, and that they want to refinance in 2 years probably. 

What do you suggest?

thank you!

@Mindy Jensen 

@Mindy Jensen yes, he has completed  Residential Lease Inventory and Condition Form when he moved in. noted about not "promising" anything.  so I will just use the same form and fill out "Landlord Move Out column", sign and date it. do I need to give this form and date it when I do the walk through? or I have also time to send him this signed form? thank you!

thank you, all!!

Hello, my renter is moving out in a week. What is the process I need to follow? Meet him at the property at the last day and do a walk through using the property Condition form? take his house key and the  garage door opener. 

I have 1 week to mail him a check with his deposit.

Am I missing anything? thank you!