All Forum Posts by: Travis Elliott

Hi I am buying home on a contract. I need to get down to the title company soon but before I do I have to find a decent contract format. I have a purchase agreement already so I am covered there. Do you guys know of a fill in the blank type of contract for deed?

Any help would be appreciated.

Thanks Travis

I have decided to pay off my truck instead of paying a house down.

Why do you suggest living in a home for one year?

I own tow SFH both with mortgages. I also own a business and the building has an apartment above it so I don't have a home mortgage per say.

I plan on buying more homes but being a new business owner the banks wont touch me so I am going to have to wait for contract deals to come along..

My thought is to pay down on one of my two rentals but I am unsure if that is my best bet. Owning a business wont the rentals play into my tax savings? Will paying a house off hurt more than help?

Please give me some suggestions.

Brian what is the book called.

Lol thanks Joel

I haven't heard from her so it may be a dead deal anyways.. Time will tell

As far as rents on this property I could bring them up to 500.00 but I am not one hundred percent positive on that... At a 250.00 payment to her I would still have to account for T and I witch could be from 60.00 to 100.00 a month.. If I could make two hundred a month on this property it wouldnt be a bad deal plus I could turn around and resell it on a contract down the road.

Nathan she wouldnt except 25,000 so a second ofer of 15,000 would be out of the question.

I got a call two day's ago from a lady who was very frantic. I had given her boyfriend a business card several months ago so she gave me a call in order to git rid of her rental home.. She is not a LL by choice and she is experiencing the bad side of the business.

She wants 50,000 for this 3/2 home. Current rents are 400 and it has a new roof and a super high efficiency furnace. I checked the home out this afternoon. Later I called her and offered 25,000.

Well this wasnt what she wanted to hear. She talked about coming way off the 50,000 price but not this low.

So I am wondering where to go from here.. I really want to buy this on a contract, the home is paid off. She wants more money than I offered and is thinking of going to South America in a couple of years.

My thought is to make a new offer to her buying it on a contract with a two year balloon. With the rents only being 400.00 a month what would you suggest that I use as an offer.

I am open to creative ideas here.

Thanks Travis

Rick

They dont want the house.

Hi Ed

And thanks for the reply.

I am trying to keep my payment low so that when I resell it I will have a decent profit margin.. It would rent for 500.00 or it would sell with a 500 payment so I dont want to pay the same as the rents or payment.. If my payment was 200.00 I would be making 300 a month over my payment..