All Forum Posts by: Account Closed

30 year note, I should have mentioned. Very good info J thanks. 

It gets even more interesting, when you consider that the buyer could pay me off  in year 3 or 5 or whatever. It does not usually happen in these deals in my experience here, but it could happen. 

what part  derek? 

Agree scott. I know from personal experience in my Texas city that this is a pretty steady, safe market. It doesn't go sky high but doesn't plunge either. We have done well in REI in up markets and down markets. I am able to sleep at night, and make a solid return. That's key.

I have a SD 401k, and I buy buy/hold 50-60k properties in TX. My preference is owner finance, as it minimizes my maintenance costs. I like steady cash flow, and no stress. I am funny that way, you know!

Thank you bob. 

 yes sir pedro. that's right. bring something to the table that the mentor/guru whatever lacks. 

Yes it is possible. Yes you can find one without spending money. You will need to offer that person something of value. In my case, I buy his deals. They make me money. I find him investors sometimes. And he teaches me. My out of pocket - zero. Good luck. 

Yes, taxes are indeed escrowed. I pay them. That's how we set it up in our market. Thanks for the explanation, very helpful. 

got it. thanks. 

thanks, but my question still stands :). The only expenses I have other than taxes are in my original question - 

- the initial vacancy after purchase before I owner financed it (2 months)

- potential vacancy if I have to foreclose

- foreclosure legal expenses (500 to 1000 in this area). 

thank you :)