All Forum Posts by: Account Closed

I understand selling the whole note but not the individaul payments...:)

How does that work bob? selling the payments? I have heard of that but it's not my area. My partner here in town has done very well just buying and holding the properties. Thanks. 

Also, I flip houses to build cash for more of these buy and holds. The flips are a means to an end, not something I will do forever. I've made almost 20k in the last 4 months on two flips, will use that cash to do more flips, and then buy and hold owner finance. 

Good luck getting mortgages on these houses. :)

I'm not there yet myself, but my partner turned a couple of these into dozens over 10 years. I'll get there :)

What next? Save the cash flow and buy more houses! ;) My mentor/partner retired himself before 30 with several dozen of these owner financed homes, owned in cash. He started out dirt poor as well. 

I have heard that criticism before. Its a 30 year note. How many people hold a rental for 30 years? 

The buyer always can refinance and cash me out. It happens. Or, they default in 5-10 years and I resell it 5k down, 900 a month again :). Not what I want but it's very good for my finances.

Our San Antonio TX investors from California mostly owner finance their properties with us. We find them good end buyers. They have no maintenance costs at all. Maybe 5k to pretty up the house for resale, 10k at most. Very few of our investors rent out our properties from a distance. Too many headaches. 

Dallas and Houston are good, most of TX is good. I'm not totally objective here :) but a lot of people skip San Antonio. The oil boom has created a massive demand for affordable homes here. There always is demand for them anyway due to our high Hispanic blue collar population. My partner has made his entire career out of cheap, distressed houses in San Antonio. It retired him at 28, can you believe that? 

glad dayton is working out for you! I don't have a contact there at present, may have something lined up there soon.