All Forum Posts by: Philip Williams

So this is my first bigger pockets success story...here goes. Like most newer investors one of my biggest challenges was creative financing. I had some capital actually a decent amount but no regular w-2 income. So I decided I was going to ask every buildings owner that I was interested in about seller financing. It paid off I have a deal closing on a six unit fully rented building financed through the previous owner. I am putting down 18% which is less than the 25% the bank would require. All the numbers look great on paper but only time will tell how great of a deal it is. It actually passed the 3% rule which surprised me but it is in an economically depressed area. I don't know what else to add but hopefully this will inspire others who have had some financing difficulties!

Not that I know of, however most agents will at your request set up a search with whatever parameters you set and essentially leave you alone. I used a realtor to find a duplex we bought about 9 months ago, the search however is still actively running. So although I don't contact the realtor my email continues to get new properties in his counties etc....I hope this helped!

Yes I like the option of raising the price on the unit. You can explain to her that expenses have gone up and if she is willing to stay and pay you the extra you may not mind the hassle as much. I had a tenant in chicago who did exactly what you are referring to! I raised her rent by about 15% expecting her to move out. She did the exact opposite she signed the lease and continued paying and absorbing the late fees! While slightly frustrating I certainly don't mind getting above market rent from her :)

@Jeff Valentino undefined

Yeah that could definitely be something to market for in Rockford. I am actually dealing with a retiring landlord as we speak, I am hoping to pick up 8 of his 10 units. I could easily wholesale them but I would rather buy and hold than make a few thousand.