All Forum Posts by: Tiffany Ward

@Brian Gibbons

Thanks for the reply.  I found more information on installment payments and gave that to the realtor. Unfortunately the seller wants 10% interest.

Hello. I want to purchase a property with seller financing.  It would work best for me to make a lump sum payment once a year rather than monthly payments.  Does anyone know where I can find out more  official information about this so that I can share it with the realtor?

Thanks to everyone who replied. I have a concern about paying a property manager extra to get a unit rented out.  Doesn't this promote hasty tenant selection and turnover?  Is there a better way to get the units rented and compensate the property manager in a way that allows their goals to better align with mine?

@Derrick Craig  and @James Martin

The  apartment building is located in South Memphis in the Washington Heights area.

So this is my first income property purchase.  It is a 4 unit building in Memphis for 18K. One unit is vacant and the other three pay an average of 285/month.   The trouble is that I live out of state and I'm having difficulty finding a property manager that will deal with a property on that side of town.  I need ideas on how to find someone to manage the property and how do I know how much to pay them.  I found one person, but he wants to charge 10% of rents collected, First month's rent and $250 per week to take tenant calls.  That seems ridiculously high to me. Any thoughts?

Hi Zack, I'm also in humboldt county but I'm looking for investment property. I've come across a property or two with seller financing. You might consider that as an option. There was a place in Cutten with two houses (one of them needs a lot of work) that the seller would consider a lease option. He was asking less than 200k. There was also a house behind the New Ace hardware in Eureka where the seller would carry the note.

Thanks for all the input. I am a newbie and this would be my first flip. I know that it would be a huge undertaking. Because the rehab time, costs and holding costs, I am going to pass on this one. Thanks again.

There is a single family REO that has a very bad mold problem and needs a new roof and a new kitchen and new floors and subfloors. I want to get started doing flips and this home seems like a good one because of the beautiful architecture, large windows, skylights. My theory is that if I can buy it for the right price, as long as it isn't a teardown, its worth buying and rehabbing ... even it needs a lot of work. What do you all think?

Thanks everyone for the warm welcome.

Mark Nolan Thanks for the tip. I'll be sure to check that out.