All Forum Posts by: Amine E.

@Russ Roslewski feel free to PM me for a local contact for insurance needs. Forget the big name companies when it comes to cinsurance in OKC

The popular @Rhett Tullis is the man with the plan :-)

Boeing is expanding big time in the SE side of OKC. Although most of Boeing employees will probably live in nicer area. The extra taxes would sure help the area.

@Matt Miller

 Thank you so much for the input. You really put things in perspective for me. You are spot on on the life events and such...I do have access to financing at 5.5%. I will be going back to the seller with an offer using the 2% rule.

@Shanequa J.@John Thedford

thanks for the input. What's exited me about this deal is the fact that the owner is willing to carry the note tax free. So while I might cash flow. My entire payment would go towords principle pay down. The house is recently updates inside with sewer line, water tank, Roof is 5 years old... I figured 900 PITI, would leave me with $150 a month for repairs. I don't. I don't need the cash flow for now if I get the house free and clear in 8 yrs. Thanks for the input.

I m looking to purchase a 3 bed 1 bath rent ready with recent updates in the Village area of oklahoma city. Arv is about 85k. Owner is asking 90k. I offered 15k down and $800 / month for 8 yrs. House would bring 1k in rent. Taxes and insurance are 1200 per year. Thank you for the input. 

@Wayne Brooks. Thanks for the correction. 

@Larry Turowski for option b) i would do a contact for deed and disclose that the house has a mortgage on it that would be paid off when the buyer pays his obligation and before the title is transferred.  Thats what my lawyer said.   Thank you 

win, win and win. Congrats

Please help me decide on Exit strategy. Should I :

a) Sell for 132K. Netting 20K after closing costs and capital gain taxes

b) Owner finance (Contract for Deed): 137K sale price,  20K down, 15 yrs, 9%, $1200 a month. (no escrow). Qualified buyer. I have a done a refi and pulled 72k (15yrs, 5.5%, pmt of $588). all the 20K down payment and I would have all my money back and cash flow about $610 for 15 years.

c) Rent for $1200

House is complete remodel. House is in a C class area. Not must appreciation over the last 5-10 yrs.

I have all options available to me which is a good problem to have. But still a problem to solve

Thanks PB nation.