All Forum Posts by: Tommy Payne

I have seen this before with a post closing addendum. It was a different situation, working as Realtor we used a post closing addendum to allow the seller the occupy the house after closing for a certain amount of time. But you may need to ask an attorney to prepare a lease at closing to allow them to rent back from you for a time.

Wouldn't she be able to pay all the back taxes at closing? I thought that could be done fairly quickly.

My name is Tommy Payne and I'm a commercial and residential broker in the Jackson, MS area. I work in a family owned company and I've been in the business since I got out of school in 2012. I have been a member of BiggerPockets since January but I am just now trying to be active in the forums and have yet to post until now. I've been around real estate my entire life but I'm learning something new every day, and I am wanting to get more involved in residential investing. I was living in a rental with two of my friends from school a little over a year ago, and when one friend had to move out of town the other friend and I decided to buy a house together with hopes of renting it out in the future. We occupy the house now and are in the early stages of looking for another house to purchase and occupy, while hopefully leasing out the one we are in now. 

I work mostly in commercial sales and leasing in the Jackson metro area and it's something I really enjoy doing. My personal goal would be to start acquiring residential rentals as quickly and practically as possible to start earning income while continuing to be in the brokerage business. Eventually I would like to get into multi-family rentals and also commercial investments as well. 

I'm looking to network and gain any knowledge out of bigger pockets. Would appreciate any tips of feedback. Thanks for your time.

-Tommy