All Forum Posts by: Donald DiBuono

@Donald DiBuono I think I'll be the first one advocating for selling the property here. I am a HUGE proponent of buy and hold rentals. But what's better than cash flowing real estate? Cash flowing notes. No management, no headache unless you had to foreclose. 

I'm assuming this is a single family but even if it's a duplex this probably isn't something that's going be a critical mass of cash flow for you. So if this is your first time potentially holding paper, doing that and gaining some experience would be beneficial. 

I can't knock ya if you wanted to keep it and start building the rental portfolio. But trying to play a little devils advocate for ya as well!

Good luck!

Both options you've presented have their own advantages and disadvantages, The decision of which option to choose will depend on your personal financial situation, investment goals, and appetite for risk. It's a good idea to consult with a financial advisor or a real estate professional to help you weigh the pros and cons of each option and determine the best course of action for your specific situation.

 Is the renters someone with an 800 credit, 700 credit or 600 credit?

 What is your long term play? Both are great options but really depends on how much cash you have to play with and what your long term goals are. If you rent it out, you get tax benefits over carrying the note (ordinary income on interest) and in 3 years could refinance. If you hold the note you are basically covering just above inflation and get paid off in 3 years and can recycle the money.

If its a A or B area I would rent, if its a C I would sell owner financing.

@Donald DiBuono is the cash flow from renting including maintenance and capex and vacancy?

@Donald DiBuono Honestly I haven't met any good wholesalers in the area but I'm definitely game to find some in the future. It's been MLS, cold calls and the occasional gem from my broker so far. Best of luck in finding a great wholesaler and feel free to keep me in mind if he has anything that you're not interested in!