All Forum Posts by: Matt B.

Thanks so much Kate. great advice. Just wondering if you know but what's the success rate for a seller financing deal? like 1 out of 10 deals found would be okay with seller financing or 1 out of 50 etc?

Hi all,

For my second deal, I would like to do a seller financing type situation. The reason is mainly around my down payment, I don't have enough saved up for Fannie/Freddie standards. How do you guys go about doing a seller financing acquisition? I know I would run the numbers to ensure it makes sense just like any deal but how do you guys go about proposing the seller financing to the seller? is there a special website for people open to seller financing listing their assets? do you find a deal and then just propose it to the seller and see if they bite? is seller financing only good to other investors selling an asset or do people just selling their primary residence do them as well? Any advice to get me on to my next property is greatly appreciated.

Thanks,

Matt

I third the 2nd amendment comment. The average response time for police is 5-7 minutes, the average altercation with a perp is 45 seconds....

good luck with the eviction. 

don't be afraid to take calculated risks. You are young and can completely recover from any damage.  

@Jake S. your car payments cost more then the mortgage payment on my rental in NYC. maybe you should dump the fancy cars and buy assets that pay you to own them, not the other way around.

This website is dedicated to getting people out of the rat race and on a path to financial freedom. $2K a month for not 1 but 2 exotic cars and another one paid off on the driveway meanwhile you don't own a primary residence or at least 1 form of real estate shows your in the rat race mentality and are too busy keeping up with the joneses then to provide a better future for yourself and children. $300K a year does not support a lifestyle of $300K MSRP worth of cars sitting on the driveway.

BTW, congrats on the new addition to your family. boy or girl?

@Ryan Roberts, why were their bricks in the washer?

I would send her an email or mail stating she is expected to vacate the property as per her lease. Because you are willing to work with her, you can allow her a 3 month extension of the lease on a month to month basis to figure things out, but she will be required to give 30 days notice. 

I would also say that if a response is not received within 5 business days of her intentions, it will be assumed she will vacate the property at the lease termination date and you will begin showing the property between the hours of 9am and 7pm with limited notice. 

maybe tell the tenant to buy a dehumidifier? 

Yes that would suck. thank god that hasn't happened to anyone I know.