All Forum Posts by: James B.

@Joe Villeneuve

Nothing-no mortgage no lien

@Joe Villeneuve @Paul Beets 

Gents-any thoughts?

Hello as an investor, how would you structure this deal for you to purchase?

What terms would you offer to the seller for seller financing (Rate/Terms downpayment)?

Single Family Home 3/2 1300sft

Asking $110,000

Income

Rent $995/mo

Expenses

Taxes. $110/mo

Insurance $65

Vacancy(8%) $80

Maint(8%) $80

Mgmt(7%) $69. = $404/month

CapEX

Unknown- will get contractor to determine. Est. $15,000

Additional Expenses
-Sellers Realtor Commission (3%). $3300

-Title issue. Cost to remedy. $3000

-Closing Costs $2500

-Attorney fee $1000 =$9800

@Nicholas Glatter @Joe Villeneuve

I like what Joe says about using money instead of spending it. I'm doing refi's now on properties I purchased a few years ago.

I'm recovering my original "seed money" with profit and have been paid all along the way. Hope to be able to speed this process up a bit, although when you have multiple properties that you can refi, and continue to purchase more from that money, you have an almost "self-funding" operation.

@Joseph Agins

My refinance LTV's are from 60-75%, depending on the lender and the DSCR for the loan.

@Mel Park

Maybe expand your geographical area to analyze properties in? Still many MSA’s that make sense…

@Joseph Agins

I’m in a similar position now with my SFRS- I’m sitting on some nice equity and am actively doing cash out refi’s.

The cash I’m borrowing out (tax free) is my way of reaching back into the past and patting my former self on the back for having the stones to buy properties.

Feels stupendous that I have all of my original capital out of a property and I get to keep the asset. The same capital now buys another property that my future self will thank me for :)

@Laura Guy

Hi Laura, serious questions, as you're devoting time/money/resources to this issue. What happens in the future when the term, "Housing Provider", and the other terms that you replace, "Landlord", with become either offensive or out of fashion?

Will they be replaced? Will the new terms be legally compelled to be used?

I agree that bad actors exist on all sides in every industry. While we're at it, let's change the terms, "Mortgage", and "Amortization", because they derive from the French/Latins roots of death and to kill? 

@Myka Artis @Damon Cluck @Joshua Schmidt @Rachel Fazio 

Just learned of your city is getting another Amazon fulfill center-that's good news!

https://www.arkansasonline.com...

Thanks @Damon Cluck 

I appreciate this info!!

I agree: as long as we get paid our rent, I'm happy :)