All Forum Posts by: Debra N.

I'm in SW Pa market.

Hi All,

  I am planning to move into the seller financing strategy to generate cash flow and am looking for advise.

In today's world of Dodd-Frank, what is a good finance term? (interest rate ranges and months)

What is the typical down payment?

What other tips on the strategy do you offer?

Please contact me, I am actively looking for a MHP in PA

What's your opinion of rent to own options for cash flow investing?

I'm looking at SFH rentals and thinking about using the rent to own option to reduce the property management issue of rentals.

no I am not licensed.  

no I did not

We have a house under contract (going on 3 weeks now).  It is a rat trap and a hard sell, but we have an investor that wanted to see it.  We called the owner to make arrangements and he said he sold it to his neighbor this week.  

Now the contract was for 8500 and we reduced the sell price down to 10,500 and finally had some interest in it, so the wholesale fee was going to be small, but that's not the point !

Does this happen to wholesale contracts a lot?

I just wanted to confirm that I have this right on the assignment contract.

I have a purchase agreement for $25k, now I am assigning the contract to an investor.  He is paying $5k wholesale fee.  

Do I just put the $5k on the assignment contract?

Thanks for the replies.  I immediately told everyone of my mistake and they were all very nice about it and thanked me to being honest.  I still have a few that are interested and we are waiting to set up a walk thru.

The big mistake I made was telling my RE investors about the 93k appraisal.

I am embarrassed by my error and now I lost credibility and feel terrible.

I was just excited (newbie) and wanted to move faster then I should have.

I am not trying to be greedy (only taking $5k or less if I have to), I am trying to be diligent in my reviews, and presenting the property sheet in a professional manner, and trying to build a solid reputation. 

I told the investors of my mistake as soon as I discovered it and apologized.  I hope they understand.