when you drive out off campus and you see real estate signs those are usually from people that are working with real estate agents when someone’s working with a real estate agent rarely is that real-estate agent going to want this to occur because then they won’t get their commission so this is a small fraction our studies have shown about 5% of the total seller market fits into this category where they’re kind of stuck and they need to get rid of their property

fast that make sense okay so I also toker I said well now look so now if I’m gonna take over your payment’s I’m gonna take on your responsibility I’m gonna need some I’m gonna need to make sure that I’ve got complete control of this property would you mind if I became the owner and again I shoot these people straight you know you get a share with exactly what’s going on and he said well I guess that’s what I got to do Phil that’s fine so he deeded the property to me so now I’m the owner

but his name is on that loan and my responsibility is what make his payments now I wasn’t moving into this property so who was gonna actually make these payments the tenants that’s right so I moved it a tenant oh this this should be pretty interesting here I don’t know how much y’all have talked about yet as far as loans but this loan was an FHA thirty-year 6.25% fixed-rate loan let me completely impact that FHA Federal Housing Administration that’s a government-backed

loan government backed loans typically have lower interest rates number two it’s a 30-year mortgage which means it’s got a lower monthly payment because it’s cut you know the payments have been stretched out and then 6.25 when this property was purchased about ten years ago that was a good deal nowadays I mean four and five percents a good deal but real you know interest rates by the way you look at history on real estate they’ve gotten up to as much


Related Articles

Useful Guides

how to purchase a home with no money down

Leave a Reply