All Forum Posts by: Tony Nguyen

J Scott - if there is no interest paid but I still make the seller $500 per month payments thats all principal, he would still get taxed on the entire sales price amount in year 1?

Cheryl - based on the cf analysis how would you have the property paid off by then? Also, why isn't the "i can get out tomorrow" price important to you anymore in todays market?

Thank you both.

Hey Aaron,

Thanks for your post. Paying more to get better terms, understood. How many years do you usually negotiate your balloon for? I said 5% b/c honestly I never thought about just offering 2% so good point. Good call on the 12 month pay off. I'll try it!

Thanks Bryan. So what I'm understanding from you is that you WOULD pay more, just as long as your 50% rule plays with it well and you cash flow. Thanks for your input.

Hey guys,

I recently met a seller who owed nothing on his property. It's a good property, under 10 years old, 3/2 with 1300 sqft, etc etc.

The house has comps from 70k (fixer) to 90k (move in condition). It can rent for $1,200 per month. My goal was to buy and hold. The condition of this house is move in ready.

I was prepared to pay 80k with 10% down and he would finance 90% @ 5% with a 10 year balloon. He was fine w/ holding the note, but wanted 100k as the price. I told him I'd meet him in the middle @ 90k and it was my final offer. He told me he wouldn't go any lower than 100k so I walked.

My question is do you usually pay more for the ease of seller financing or no? I am really just trying to see how valuable seller financing is to you guys - thanks for your input!

postcards will definitely be more cost efficient and the HOs are basically forced to read your postcard before throwing it out. Depending on what you're writing and your presentation, letters can generate good results. I send out 84 letters a few weeks ago to multi family unit owners and go 13 calls which is pretty good. That could just be that market though. Your probate results may differ. I'm currently experimenting with 700 letters to primary owners right now to buy/flip or buy/hold. I've only sent out 200 so far and have gotten 2 calls. 1 of those calls is currently transforming into a deal but we need to define some terms.

And yes to what Aaron said - It's an automated world =)

Rondo is amazing for playing w/ a dislocated elbow last night! I'm a Heat fan though so go Heat =D

Lakers = disappointing. It will be humiliating to Kobe if they get swept.

Sharon - thanks, you make a ton of sense. what kind of questions do you ask them?

well said Loc.

Jim - $1million or $5?

thats a pretty good closing ratio for cold calls man! i'd hate to be on the other end of line with you =D