All Forum Posts by: Sean Ryther

@Jeremy Nault, @Mackenzie Grate, @Michael Dumler Thanks for the feedback.  I greatly appreciate it.  I do have to realize that it will take time and need to be patient.  Thanks for that reminder.  It also drives me to what to think creatively and outside the box.  I'm the one that needs to put in the leg work.  I100% in agreement with that statement.  I also know that sometimes it pays to work smarter and not harder.  Just trying to learn quickly and be effective and efficient with my time, money, and resources.  Thanks again... I appreciate you all. Have a blessed day!

BP community,

I am not discouraged but also find myself probably in the same situation as many who are starting out and seeking advice to get some traction.

I don't have enough cash (yet) to make cash offers, so I keep losing out on the offers I put out. I am working with a single realtor and signed a 6 mo. contract (which I'm not sure is the best thing, but it is what it is) I am only getting houses from the MLS which I can also find on all the online real estate sites. So I feel like I am not getting an edge here.

I am at the point now where I am willing to go door-knocking.  I've never done it before, but hear from BT that driving for dollars is a good way to find properties offline.  

Does anyone have any experience with this method?  I recall him sharing a postcard option at one time.  I am fine even writing a letter.  I am motivated to do what it takes to get my journey going.

On a side note. I am looking to get more cash available by taking out a HELOC. Does anyone have any recommendations on the best lender? I saw Rocket Mortgage and Guaranteed Rate, but that was from a limited search.

I am also curious about other creative ways to get lending so I can be that guy who makes the cash offer and not always losing out to the cash offers.  I just bought the Audbile version of the book by BT so I'm sure I'll learn ways shortly.

Thank you in advance!

In Health,

Sean

@Erica Osborn Thanks for the advice.  I'll let you know how it goes.  

@Bud Gaffney. Thanks for the response.  I'll keep you posted.

@Dustin Allen, Good point! I guess I got hung up on seller representation since this would be my first time proposing seller financing. I just assumed FSBO and seller financing went more hand in hand, but I guess not. Thanks!

BP family,

I am looking to purchase a SF home for a rehab and sell.  The seller is already working with an agent so I'm wondering if anyone has had any luck with seller financing when seller is working with an agent?

I'd appreciate any feedback or tips when writing up a contract for seller financing.

Things I want to consider:

purchase price vs asking price, down payment, interest, realtor fees, and other fees, balloon payment or not. 

Thank you in advance!

Sean

My business partner and I are looking at creative ways to finance and have heard some great episodes on the BP podcast but didn't know if there was anyone who has any must-do's or don'ts in terms of seller financing.

Looking to flip a house and was curious if it would make sense to propose seller financing or is that more advantageous on a buy and hold?

Any advice would be greatly appreciated.

Thank you!

Sean

Thank you so much for your feedback and advice. 

I'll keep looking.

Have a great day!

BP community,

I'm looking at getting into my first rental property and have a duplex I'm looking at and ran the numbers and wanted to get another set of eyes on the deal.

The information is on the below link

Price - 195K

$5,000 repair

After repair, lets say 200K

Let's go 30 year mortgage

5% down payment

I probably would manage this property.

Duplex property - Deal or not?

Any insight would be helpful.  I don't want to get into a deal if it's not worth it. 

You can PM me if you'd be willing to share your thoughts on the numbers. Thanks

Have a great day!

Sean

BP community,  

I am looking for a tax advisor/CPA that is REI and Direct Sales Marketing savvy. I am in the Minnesota (Twin Cities) and looking for any recommendations.

If you are someone or know of someone that fits this description,please PM me. I am more than willing to refer as well.

Have a great day!

Sean