All Forum Posts by: Account Closed

@John W.  It is 4.6% with 10 year fixed and 30 year amortization

@John W. Can you please elaborate? I do not follow what you are trying to say at all.

@Joel Owens  What are my risk of seller financing other than over paying? 

I am working on this great deal, owner is willing to finance it for 4.6% and I am trying to figure out what are the disadvantages of doing this deal other than over paying? 

I am also trying to wrap my newbie brain that why would owner willing to seller finance.

Hi all, 

I am doing a seller financing deal and rates are very favorable (4.6% with 15% down) 10 fixed with 30 amort. What are the big things that I should watch out for other than overpaying? 

What should I include in contract such as repayable loan, loan assumption?

@Matt Moreland Well, seller is offering 5% with 15% down. I am in the process of negotiating down to 4.8%.

What are the current rates looking?

I have the option of refinancing through seller at 10 yr mark but I would probably go with refinancing with the bank.

@Basit Siddiqi

1.1 is the county assessor. I have not ordered the professional appraisal yet.  

Hi all, 

I am putting together a 3m loan and seller wants to do seller financing and he is giving me with 4.8% 10yr balloon with 30yr amortization. 

Is the rate too high or a good deal given the current market conditions.

@Jim Cummings  Thank you so much for your detailed reply. 

Now, I am crossing my finger and we will just have to wait and see. 

Hi all, 

I am a newbie here working on 2.3m deal in Houston. The listing is completely off market and seller financing. 

The current property appraised value is 1.1 m and I am buying it for 2m because of great cash flow. Last year tax is about 30k. 

My questions is after the transaction, would my county tax appraised value change to 2m and my tax would be like 45k?

@Tom Smith You will have better luck with buying MFs and will be able to charge 1000+ for 1b1b if they are class A or B+. Better looking for 3-4 units (2b2b ideal) situation. 

You will have to defend for the tax. HCAD will push the tax high but you can lower it with good attorney. 

I currently owned a 4 units (three 1b1b and one 3b3b). About 3% vacancy given, I prefer long term tenants with average rent rather than 1 year lease (turnover) with market rate.