All Forum Posts by: Taylor Tully

Marc Faulkner

Thanks for the reply’s! Are you saying these get paid back by amortization, or by interest only payments for a term? I know I can give a first lien to the lender, then I hold a second lien with the end buyer. When is the lender typically paid out and done? Taylor

Hi guys, I wanted to see if I could get some input. I’ve got a few friends who may be willing to fund some mobile home deals I am looking at and I’m trying to see what some good repayment terms would be to use them as private money lenders? I am looking at mobile homes in parks I could buy for around $5k and sell for around $20k with owner financing for 5-10 years. Total cash flow per unit after lot rent would be $250-$450 per month plus maybe $1000-$3000 down payment that could be split. What could be some good repayment terms I could offer them that would be mutually beneficial? Thanks for the input!

Hi guys, I wanted to see if I could get some input. I’ve got a few friends who may be willing to fund some mobile home deals I am looking at and I’m trying to see what some good repayment terms would be to use them as private money lenders? I am looking at mobile homes in parks I could buy for around $5k and sell for around $20k with owner financing for 5-10 years. Total cash flow per unit after lot rent would be $250-$450 per month plus maybe $1000-$3000 down payment that could be split. What could be some good repayment terms I could offer them that would be mutually beneficial? Thanks for the input!

Brian Gibbons I've talked to a couple people who don't think there is much room in this for a deal. Is there any angle you can see to make this work?

Thanks @Matthew Hodge. Yes, it could possibly be a subject to deal, and the note is a regular mortgage with him on the deed, not a contract for deed. But, he does want the rest of the equity he has in the property. What I haven't asked him was if he would take that equity on installments?

@Jon Pitcher

@ Jon Pitcher

Thanks for the reply Jon Pitcher, I'd love to talk to you about the deal. Also, my friend is the owner on the deed.

Hi BP, My name is Taylor and I need some help on a potential $1.5m deal south of Oklahoma City. I live north of Ft. Worth, TX and am new to RE investing so I have some questions on how to make this all work. The property is owned by a friend of mine that is motivated to sell and is open to selling on terms. Again, he is a friend of mine and I would like to be as fair to him as possible. The property is a 300+acre ranch with a beautiful house garages, barns, shops, meeting pavilion and guest cabin. It's worth $1.5m with a first lien from a bank for $1m on a 30yr, a 2nd lien from the original seller (carry back) for $250K on a 5yr. My first question is: 1. If he sold on seller financing/wrap note, and someone had enough down to pay off the 2nd lien, could they do that privately or would the first lien bank have to approve it? 2. Would the 2nd lien holder need to file a quitclaim deed to relinquish their lien? Also, my friend obviously wants the rest of his $250K he has in the property. What would be the best way to go about this deal to make it good for everyone? Any help would be appreciated, including an attorney who could write up the deal. Thank you