All Forum Posts by: Donald Dickerson

Thanks everyone. I think what makes most since is what his payoff balance is. I have no debts against this property. If used the total value, there would be duplication, because his net worth on the property is his equity, whereas his debt on this property would be my asset. Again thanks!

In calculating my net worth I don't know what I should put down for the house that I owner financed. My other properties, no problem. Just this one, I don't know how to list its net worth for me. If I was the one buying it, it would be easy. Thank you Don

How do I calculate the net worth of an owner financed property? I'm the party doing the owner financing.

I would rather have my assets in real estate than 401k savings.

Statistically speaking self employed are riskier because of the difficulty to establish credit and credentials. But you still need to do due diligence, and often times, due diligence will satisfy you that the self employed applicant is more than qualified. Statistics are good indicators, but nothing replaces good due diligence.

At $600/month and using 50% for expenses, suggests around $30,000, but going in if it takes dollars to renovate, to be rentable, you may need to offer less or look at raising the rent as soon as possible to make it return more for you.

Here in Houston, I use Conners & Assoc to contest my prop taxes for all my taxes every year. It does help.

Check with the RICH group in Houston. Their website is richclub.org

check with the group called 'RICH' here in Houston. You can reach it at www.rich.org

Great group with a lot of resources as well.

Congratulations!