All Forum Posts by: Nathan Ruffrage

Ok investors. Need guidance. 

I’m considering the purchase of a property owned by another investor. This Investor bought a property from the elderly owner who has let the property fall into disrepair. Investor promised to allow her to stay and was going to give her a small adu to live in on the property. Investor wants out and is looking to just get his money back out and pass on the situation to the next owner. Tenant is not paying rent and is not in good health. Tenant probably needs assisted living but does not want to leave. 

There is big financial upside on this acquisition but it comes with some serious moral challenges. 

I’m wondering if a state social worker can help this elderly woman relocate to a better living situation. 

Hey there!!!

I’m an investor with a Heloc on a property that is very low. The property is valued three times that of the current line of credit. I understand some banks will simply increase your line of credit without all the closing costs.

How common is this? I’ve asked my lender and that they won’t up the credit line without going through another closing. 

Hey there! My experience this is a bad idea. When you collect rent it makes it very difficult to evict a tenant if the need arises. 

Some good advice above. 
1. the numbers you’re presenting are tight. Drill down to the reno costs. If you’re  new to this things can spiral fast with what the project sounds like. 

2. Is grandma going to have to pay property gains taxes on selling to you? Keep in mind that if this is not her primary and she sells and you sell both of you will be taxed. 

3. Explore selling as is for grandma to another investor. Depending on your market and the scope of the project you might be able to wholesale it with less headache and a decent profit for both of you. 

Hey all! 
We are looking at owner financing  our current flip. We have funded this flip with our own cash. 

Can we owner finance it and then get our cash back out of it by securing a loan on the property??? Thanks! 

Hey Oh friends! 
Investor here looking to dip my toe into private lending to another investor. 

Deal- Wholesaled property under assigned contract and buyer looking to borrow 130k at 11% for 4 months from me to finalize the deal and get the property refinanced. I will be in first position on the note.  Buyer is a seasoned investor with a good track record. Property is something I would be glad to add to the portfolio. 

My confidence areas and experience are in LTR, STR and BRRR but not private lending.

Any advice on what I should consider or create in order to protect myself or add value to the deal. Thanks! 

I’ve been down that road and won’t go back. 

I don’t see a valid reason to allow for it unless you really want your realtor to double dip on the commission. 

Of course realtors will say it’s fine because it’s a dream deal for them. Less hassle and double the profit. 

Hey!!! 
I’m finishing up a rehab of a older sfh and looking to sell owner financing. I’ve never structured a owner financing deal and looking for advice on how to approach it. Thanks!