All Forum Posts by: Yangjee Sherpa

Owner said they are current with all payments. And we will use title company to close the deal. Owner wants to get paid all at once if she can, it was me who asked for owner finance. However, I am also thinking about getting loan from bank or mortgage company and pay her all off.

Hello BP family...

I just talked with an owner. This is how it went.

Asking 265k for 1688 sq foot house in santa fe, NM. Asking price is good for that neighborhood.We offer 250K. Owner wants 20% down with 6% owner financing. 1400 monthly pmt (though owner said the monthly payment is 1199, she said she will put the rest 201 towards principal). House needs paint jobs, and carpet needs to be cleaned. 

Owner has 30 years conventional loan. Owner bought the house in 2006 and after that rented it for 4 years, and now ready to sell it.

My question is what should I be aware of, and when I give the down payment will that money should go to the bank that owner owes for the property, or the title company will take care of everything?  

Thank you in advance.

I would also like to purchase the property and live in there if there is owner financing available. I have a great references. Let me know. 

Congratulation!!! 

@Guy Gemmer I am looking for a duplex, triplex or fourplex in Santa Fe area. If I can get it in owner financing that would be even better. Would you provide the contacts?

Thank you,

Yangjee

Hello!

Great job!! Sean Gover . This is Yangjee from Santa Fe. I just joined BP this week so used my nick name instead of real. I was not too sure about this site, but I think it is for sure a great site for real estate investors.

I am a novice in this field. Just started meeting realtors and spreading news to buy duplex or triplex in Santa Fe area. My plan is to move into one and rent the other. I also have posted an ad on craigslist and received one reply already.

I have read Marko Rubbel's book where the topic is focused on sub2. It got me really interested. I am not sure if you guys have read it. Any comments on that book?

Will keep you guys posting.

Thanks :)

Hi!

I didn't know I have to ask for help to change a name. Could you please change my display name to Yangjee Sherpa?

Thank you. 

Thank you for your vote Michael Boyer and thank you Marlon Wilson. Hope to see you guys often in BP. 

Hello!

This is Sharon from Santa Fe, NM. I am a newbie in real estate business and recently joined BP. I found this site very helpful for real estate investors. I am thinking about getting a duplex in Santa Fe area, and started talking with different realtors. Hope to find one soon before the market price go up high.

Feeling great to be part of BP and all other investors :)