All Forum Posts by: Max Ferrel

@Max Ferrel If you're still looking for an attorney in the Nashville area I can send you one who specializes in RE law. 

I see a lot of gurus telling people how easy it is to get people to seller finance, but its really hard. I'm in the Tampa Bay area and the market is still going strong. If the property is priced right and there isn't something seriously wrong with it, they will get offers on the property. Sometimes a property owner will want a lot more than people are willing to pay for the property. In that case they might seller finance it. If there's something seriously wrong with the property and they can't sell it, they might seller finance it. If the property is in good condition and priced right, it will move without them having to carry a note back on the property. Deals are there, but they aren't as prevalent as the gurus let on. I have a lot of these people that we're working in a totally different field prior to getting into selling courses touting how easy it is. It's not. It can be done, but it's not as easy as they make it out to be. The other things I invite you to do is, before you take advice on this or any forum...or from a guru...is to look up their background and see if they really know their stuff or if they simply want to sell snake oil. You'll be stunned at what you find. Good luck to you

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(New to Real Estate)

Trying to structure a multifamily deal with an out of state investor. With minimal capital on my side would a LP better suit me for flexibility in distributions than an LLC?

I recommend you get an attorney to draft the documents for the deal and they can advise you what is the best entity structure. Typically in a MF deal the asset is held in a LLC and then the GP is one entity and the LP another (or both in one entity). The entity setups are typically LLC's. But the best structure really is based upon each situation. for example my company is a C corp for many other reasons.

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Quote from @Account Closed:

Quote from @Max Ferrel:

Most agents I talk to seem to think seller financing is dead in my local market. I personally want to use this strategy to lock in a lower interest rate on a rental property (being 20 years old with a small amount of credit history). What is your thought on seller financing right now? What are some strategies that have worked for you to lock in a seller financed deal?

Of course seller financing will work with some people. The reason agents don't like it is because you haven't explained to them how the listing agent and buyer agents get paid. That's why they work. They want to get paid. If you can't get them paid, why would they work with you?

(Pretty much brand new too real estate)  

How would real estate agents get paid through a seller financed deal?

You write a check at closing, out of "cash on hand". I can't imagine a seller would agree to cover the cost out of pocket if they are doing seller financing, unless they had money and were desparate. 

Quote from @Max Ferrel:

Most agents I talk to seem to think seller financing is dead in my local market. I personally want to use this strategy to lock in a lower interest rate on a rental property (being 20 years old with a small amount of credit history). What is your thought on seller financing right now? What are some strategies that have worked for you to lock in a seller financed deal?

Of course seller financing will work with some people. The reason agents don't like it is because you haven't explained to them how the listing agent and buyer agents get paid. That's why they work. They want to get paid. If you can't get them paid, why would they work with you?