All Forum Posts by: Rhondalette W.

@Rich Weese welcome to Dallas! I cringed as I read about your travels from Grand Prairie to Garland. It doesn't look far on a map but can easily take hours at the wrong time of the day. I try to time my trips after 10am til -3pm. Then after 7pm avoid rush hour if you can. 

Chad keep us posted on your next one. It sounds like things worked out perfectly for you. 

Congrats on your 4plex. I am no expert but I believe that you should immediately start saving a portion of your rental income for future maintenance, repairs and vacancies. Most suggest saving 10% of rental income for each category. I am assuming you are moving in and will manage the proprty yourself?

@Bill Gulley wow!! Thank you for the warning. You have pointed out that there are a lot of different moving parts to owner financing and there could be serious consequences if I am pulled into the wrong type of deal. It sounds very complicated. When do you plan on completing your book on the topic?

thanks @Shawn Thom for sharing your experience with this meetup group. 

@Paul Timmins this is a really good article. I am glad you referred me to it. I must admit that reading the process makes me even more nervous than I was before. Specifically, the arriving 15 minutes early to network and hanging around afterward, having the 30 second commercial and business cards ready to pass around etc. now I am having second thoughts about attending?!? I don't feel prepared...

 Paul thank you for directing me to this resource. Will take a look at it now. 

 Thanks Michelle, there was a leaseback addendum but realtor entered $0 said it was a courtesy to allow time for seller to move. It was my first rental deal and have learned my lesson. It seems that my realtor was more concerned but making the deal than helping me (the buyer). I am wiser as a result. 

Hey Peter, did u recently purchase the property or have you had it for a while and need help with an exsiting problem? 

wow @Account Closed it sounds like you got two really good owner financed deals. Hoping to learn how to follow in your footsteps. $2k down and 5% down really beats the standard 20% down. How did you find the owner financed properties, not MLS?

I am planning to attend my local DFW meetup for the first time on Saturday. It is a breakfast and training on owner financing. Have any of you ever attended this meetup group? I am not sure what to expect...

http://www.dfwreiclub.com/Owner-Finance-class-Robe...