All Forum Posts by: Jason Dillard

We have that here. But I think we're all out of duplexes right now. Just kidding. Plenty of deals out there. Last couple of doors we bought for about 20k per door that rent for 400. Look me up when you get here.

Hello. Send any good deals too far north to me in the Upstate.

The 10 yr note made my ears perk up. Offer to cover the debt service until its sold and give them 125k-10 percent - 65k when it's sold. So they get a fixed amount 47,500 (which is what they are going to net anyway). They just get it later. In the mean time, your exit is lease option the house. Your profit is the 10 percent that's left plus any principle buy down.

On another note, if I were the parents I would just take the house, l/o it, and ride out the 10 yr note.

Sometimes the note on the property is more valuable than the equity.

If you can buy sub2 far enough into the note, it does make sense to "over pay" for the property. How much principle is inside this payment today? Will it pay off soon? One of my favorite deals is a house I paid too much for, with a payment that's more than the rent, but will be free and clear in 6 years. I loose/invest 1500 or so a year, but the previous owner paid down my note for me for 9 years and then handed it to me. You don't realize your gain or loss until you sell. So just never sell.

Sub2 is the way to go. The farther into the existing note the better the deal. If your exit is "as is" lease option you may not have to make repairs to place a good tenant buyer. Always get authorization to release info agreement from mortgagors so you can communicate with bank. I love this strategy.

I do property management.

Houses are better. They may be sold to end user instead of investor for more in future. Plus, you can seller finance to buyer instead of renting much easier. We never rent houses. You can make more profit most of the time when you finance to tenant buyer. A down payment instead of deposit comes in handy. Buyers may do their own repairs. However, the biggest benifit in my state is getting the owner occupied tax rate with land contracts. One pitfall is evictions may be tricky. Check with a local mentor on how to minimize risk when it comes to getting a non-payer out.

Noon and Hammet.

(864) 284-9009

What type of transaction?

Private money. Spend as much effort finding private lenders as you do finding deals. Private lenders let loans accrue. They lend all the money you need to buy and renovate. They make you a quick closer with no appraisals. For a house flipper, a good private lender is key. Don't forget retirement accounts can be the lender you need. I can't stress it enough. Private money.