All Forum Posts by: Max L.

Does anyone know of any good banks that will accept a seller carry back/second mortgage to go towards the down payment? 

I'm looking at an apartment deal in the Cincinnati area where the seller is willing to take a second. I don't have the full $150K in cash. So I'm trying to figure out a creative way to close this deal. 

any thoughts would be appreciated. 

thanks

Max

How about lease options? do you know of any gotcha's to watch out for? I've heard from one of Vincent Polisi's podcast that there are a good 5-6 things you have to stay away from or the IRS will consider your lease option a sale. It all depends on the "original intent". You can also lose in court if the renter stops paying and you have to take him through foreclosure (if they know what they're doing).

For example, you can't make the renter responsible for the repairs and maintenance, or take rent credits, and there are 3 more things I wish I could remember.

Does anyone know anything about this?

thanks Jake. wow. I didn't know that. I actually got my license a few mths ago to just have access to the MLS and learn a little more about the real estate market. Are lease/options also treated the same way?

Do you know where to get the forms needed to get a deal from start to close? 
thanks,
Max

Hello BP community

I'm new to real estate investing in Cincinnati, OH. I'm looking to do some wholesaling to start and then branch out to buy/hold. Can someone tell me what are all the forms needed and where can I get the forms?  

I know I can hire a lawyer to do it. But my goal is to start with a rough draft and then have the lawyer edit it to create the final copy. 
Your help is appreciated!