All Forum Posts by: Joshua Wilson

@kevin Siedlecki 

My exit strategy is to place a tenant buyer in the home, who will give me 15k-25k down and 1850-2000/ month and cash me out in 2-3 years at a higher sales price. Rental rates in the area are actually 1800-1900 according to zillow. House overall is in good condition. I am looking to either buy it on a lease purchase or with owner financing. Then sell on a lease purchase. 

Thank you all for your reponse.

Hi,

I am working on my first owner financing or lease purchase deal. The owner has not decided on which way to go. Details: House is located in Lancaster CA on the westside. Nice area. Its a 4/3 1800sqft. half acre. Owner wanted 318k, because of solar panels and a generator thats on the property. But COMPS are between 266k-285k.  SO She is willing to take the solar panels and generator and drop the price to 280k. 

Our deal: 280k price, 6k down 1650/month, term 5 years(seller financing) . Or lease 4k down, 1650, 5 year term.   Problems: House needs a new A/C unit ( 5k). Needs new carpet (2500). and both bathrooms needs about 2500 in work. 

Questions: Could you recommend a few good closing attorneys in Lancaster CA? 

2) Which deal sounds better to you from an investing point of view. ( Seller cant afford to make repairs, but is firm on down payment. She feels that she has lowered the sale price enough, so she may not be  willing to reduce more, I could ask tho) 

3) What are closing cost in CA for a owner financing deal 280k sale price?

4) Anything you would like to add would be great. Thoughts, suggestions etc. THANKS 

Thank you all in advance for you input. 

Hi Aaron,

Thanks for the heads up.

Joshua

Hi,

My name is Joshua Wilson and I am 26 years old eager to jump into REI. I understand LA County/ Southern CA is very competitive, but do any of you have any advice regarding direct mail with a budget of 400/month. Which list I should hit first etc? Thoughts on marketing to pre- foreclosures in this market? Thanks and advice will help.

Joshua

Hi everyone. I am looking to buy my first property that happens to be a probate deal. Currently all parties are ready to move forward , however there are problems with the Title. Supposedly the executor of the estate illegally( because she only inherited 50% interest in the property) deeded the property to two unknown gentlemen( around 6-7+ years ago).  The lawyer and myself are in the process of locating the gentlemen so that we could move forward with clearing title, but have been unsuccessful with locating the men. Any advice as to how to go about clearing Title without having to find these gentlemen? Or any advice period ? Thanks in advance. This is in Los Angeles County.