All Forum Posts by: Ty Kirkpatrick

I would suggest giving the property to a non profit.  We would be willing to accept the property.  We will issue you a donation receipt.

I'm not a fan of giving out personal information.  I am a huge advocate for investors utilizing third party agencies or services.  Third parties that offer incentives like reporting pay history to the tenants credit report.  I am not trying to advertise.  It just gives you security and your tenant benefits for on time payments

@Joseph Ambrose this deal is "not the best".  It is not the worst either.  I am speaking from the lenders perspective.  The seller is carrying the mortgage for a buyer who intends to occupy the property?

I would have the buyer make all payments to a third party servicing company. This will allow your seller to have a perfect and documentable pay history. Based upon the credir history a FHA refinance will be the exit strategy for the seller on this one.

I would not do a three year deal. I would structure as a 12 month deal with (2) extensions. This will protect your seller further in case of default. I would have those extensions be contingent upon a mutually agreed upon set fee. Which is not applied to principal. This gives your buyer incentive to payoff the loan early. Remember FHA and alike loans are 85% of market value.

I would check into the buyers rental history.  That will further give you an indicator if he will pay on time.

Hope that helps

You are more than blessed with those terms.  I agree taking the seller to your other properties is a great idea.  I further agree setting up the reserve account is great.  I would put 12 months payments in that account.  Go one step further and set up your account to automatically pay him for 12 months.  Increase the account balance monthly as one payment goes to him/her and you add another payment.  Agree to do this as long as there is rehab going on.  Invite him/her to see your progress.

We are currently looking for a Church Building, Religious Retreat, or other mixed use building within 1.5 hours of Chicago.  Seeking private sale, for sale by owner, or brokered listing.

3 bedroom 1 bath home located on 20 acres in Gold Hill, Oregon.  In addition to main house the property has a studio with 1 bedroom also located on the property.  This property boasts many out buildings for storage of your vehicles, boats, other recreational vehicles.  The property is 85% fenced with a brand new pad for home site on the property.  Seller is relocating and is looking for offers. 

All information provided is subject to Buyer's verification.

Give me a call and we can discuss this

Beautiful home on 78 acres in New Mexico.  The main house is 5,200 square feet with six bedrooms and four bathrooms.  There are two additional rooms on the main level which could be used for a bedroom, craft room, or library.  This property is perfect for a family retreat, getaway, retirement place, hunting lodge, survival compound, or b&b.

All amenities are present; electricity with backup generator, two wells, phone, and satellite internet.  Incredible Wood burning furnace!  

Eight Paddock Barn, 2 Tack rooms, covered machinery bay and corrals and the entire 78 acres is fenced with separate pastures within.  Located in unit 15 where trophy elk are located.

Previously listed for $1.8M  

Seller is prepared to entertain creative offers with large cash down payment.  Property trades will be considered on a case by case basis.

Bob,  Are you offering $28k as a partial?

Dear Bob,

The Loan was originated by the original holder in November of 2010.  The originator sold the property on "Seller Financing to the Borrower.  The first payment of $600.85 was due on 12-1-2010 and thereafter.  The Note had a hiccup in the payment history for a period of four months.  I have the full payment history for someone to review.