All Forum Posts by: Facundo Gauna

@Ryan H. Thanks! I listened to several episodes already and it's been super useful. I appreciate it!

@Marco Bario that's a great tip. How could I forget about pandemics? 😅

Thanks @Beth Johnson. I saw that in my queue. I'll take a listen.

Also, thanks, @David M. and @Chris Seveney. Just trying to figure how what I don't know. Sounds like it should be straightforward. 

Also @David M. to answer your question, I am looking to invest.

I just learned that the seller is asking for a 5.75% interest rate, amortized over 20 or 25 years, with a balloon payment at 5 years and 33% down. The interest rate seems lower than what I've been quoted for conventional loans. 

Picking a location that is cash-flow positive and has good chance of appreciation. I have friends that were able to get 20% CoC in the market I'm looking for with a conventional loan before the craziness. Now, I'm lucky if I can find something that can have 2% CoC.

Also, I don't have a lot of time on my hands. So things are moving slower than I'd like them to be. I hear that partnering could be a great way to leverage someone else's time, but I need to learn how to structure a partnership.

Hello there,

I am reading the multi-family millionaire. And, I have read other basic books. I also listen to some of the BP podcasts and occasionally I hear praises about seller financing. 
I found a really interesting listing where the seller is open to seller financing.

I qualify for a conventional loan easily, but with the higher rates and 20-25% down, it kills my returns, so seller financing at maybe 5-10% down, I could have a good return with appreciation.

From what I gathered, 

- I would need to hire a real estate attorney to be able to close the deal. The seller would also have to hire an attorney.
- As long as I can sell myself to the seller, I could be an appealing option since I have strong job stability and financials. The seller would probably be a retired investor who doesn't have the energy or desire to continue managing the property and want to collect a paycheck. 

So my questions are,
- Where can I learn more deeply about this? Any books or podcast recommendations would be appreciated.
- What's a good offer?
- Assuming I am working with a retired investor, what happens if the seller perishes? Does the note get passed down to the family?
- From forbes.com, it sounds like they typically have balloon payments. Does it always have to be the case? Can it just be a 30-year loan?
- If at some point I want to refinance to a lower interest rate, I could do that freely, correct?  As long as the loan principal is paid in full?

Thanks ahead of time! 🙏
Have a great weekend.

Hello there, 

I recently applied for a HELOC. The appraisal came back to my home. This is my first time getting a HELOC.

The AMV value is 499K @ 2,350 sq ft with 4/3. There are similar homes in my neighborhood with very similar models of homes and square footage. 

Two weeks ago a house sold for 580K with 5 beds, 3 baths @ 2,350 sq ft with the same floorplan but instead of a loft, there's a bedroom. It showed up as a comparable in the appraisal report.

I guess I was surprised that there's an 80K discrepancy over 1 bedroom. I was expecting it to be more like 540k.

What am I not seeing here? Maybe I needed to see a bigger sample size?
Also, any material on running better comps would be super appreciated.

Thanks!