All Forum Posts by: Greg Larson

Hey BP!  I am a new investor in the Chicagoland area and am looking for other new investors to practice with.    Ive studied for quite a while now, and Im ready to dive right in.    Due to limited capital, I intend to start out wholesaling a few deals, and then moving into Multi-family property investing.   If you are interested in grabbing coffee and practicing role play scenarios, please let me know.   I live in Park Ridge, just outside the city.    This can be in person or via phone.   I just want to practice!

Hello @Account Closed, thank you for the info, It does help.  This year I plan to purchase my first rental property and am eager to learn the ropes of everything involved.

Hello BP, I'm located in the Chicago area and am seeking recommendations for an attorney who has experience doing the paperwork for Subject To and other creative real estate deals Thank you in advance for any referrals or recommendations!

Thanks Walter, I'll look up some attorneys in my area and ask about this.

Hi BP, so lets say I have found a property for sale by owner, and they are interested in carrying the note in exchange for interest. Where do we go to legally draft a promissory note and complete the transaction?

Great advice Jeff and Tom, I thank you both for your input. 

 A property has very much caught my eye this evening. It is a 4-plex, 9 bed and 4 bath. The description on Trulia says it is for sale by owner, that he owned the building as more of a hobby than anything, and that the building is for sale for the first time in 24 years. I plan to call the owner tomorrow and speak with him about his situation, and inquire about the property. Perhaps the laws of attraction have brought a seller-financing candidate within reach. 

Would anyone have any advice or pointers on how to approach that conversation?

I see this mentioned quite a bit on some of the podcasts and various books I've read on REI, so that's where my interest was sparked. I appreciate the input and will read in to the other subjects you mentioned. Thank you Dave

Thank you for the info Dave. Any tips on finding seller financed properties? I've done some searches in my area using keywords, but with no good results. Leaving me to think most sellers may not advertise this, if they are willing to carry.

Thanks Samantha! Have you bought or sold any properties via seller financing?

In your experience, is it more rewarding to go straight to a Multi-family property with over 5 units? Or to start out with a 4-plex with a standard mortgage, and possibly live in one of the units for a year or so? I've heard people recommend both types to start, and am looking for some feedback from people who have walked the walk. I understand Residential may be easier to get started, but which is more financially rewarding in the end?