All Forum Posts by: Peter Campagna

Fascinating find. Thank you!

Thanks, Jack. Will definitely be on the forefront of my mind!

Thanks, Frank. And you're in NY, too. Which is great because the property is in Syracuse, so I would imagine this would be the case, or a similar case, for me. 

The house is all paid off, too. I have 4 siblings, but we have been talking this morning about all keeping our names on it and I would treat them as partners with only receiving cuts of the outcomes. More complicated, yes, but plausible.

Thanks again.

I recently inherited a property from my grandparent, more accurately my two uncles inherited 2/3 and my siblings and I inherited the other 1/3. Nobody else wants to keep the property. My question: is it possible to refinance the house to pay out the other people then remove them from the title?

Thanks for responding, Alexander. I am not looking to sell, I want to buy it.

Hey y'all. I'm working on a deal and have owner financing in the 2nd position for 1/3 purchase. I need money for the other 2/3 of the purchase and for rehab. Hard money lenders want skin in the game and proof of it. I don't have the skin in the game that they're looking for. I'm trying to do this with little to no money out of my pocket.

Any suggestions?

Thanks, Tom. That is a good reminder. Something I didn't think about, and I've been thinking about this a long time. With regard to your looking outside SoCal, I've been looking at that also, it isn't out of the question.

Thanks, Benjamin.

I have not been able to find 2nd position owners. But I guess that is part of the game, right? Keep trying until I can.

Perhaps another strategy could be just to go the whole thing hard money and refinance a year or two later?

Hi everyone. Does anybody have a suggestion on how to get down payment money?

Here is my situation:

• I live in Southern California, housing is expensive. 
• I don't seem to have much trouble finding owner financing deals, per se. 
• I have great credit. 
• I don't make a ton of money and all the money I do make I can only put a little away at a time (because: SoCal). 
• Hard money lenders don't like doing down payments.
• Owner financing wants at least 25% down.
• With any debt to income ratio I've tested it doesn't work for conventional financing.
• Even conventional financing requires AT LEAST 3% (which I don't have because: SoCal, but I'm also not looking to live in it (my rent is 1/3 of the comps).

What have you done/what would you do? Is there another thread that might have already answered this?

Thanks y'all,

Pete