Love it! Pace if you have time and can help l! I sold my place to an investor subject too and he went awol and won’t make payments any way I can get it back!?
It lessens the effect just like selling one per year like he was advised, and you can refinance with the bank, refi with a private money lender, or sometimes the seller even gets so used to the mailbox money they end up being okay with continuing the payments and extending the balloon.
@@drakebonilla So you just get taxed on what you actually get paid in the year, month x 12?? Is it still 40%?? And I think dude said he wanted to have a low enough principal to be able to pay it off without refinance.. Lemme check... 22:55
Correct it just defers the taxes that would otherwise be charged at once, which in turn makes it easier to have tax deductions offset the tax charged. And what he was referring to is he needs the principal to be low enough to go ahead and do a refinance in other words it needs to be low enough so that it appraises high enough for the loan he gets covers what’s left.
So an owner with a 640k paid off property getting $6400 a month in rental income …..decided to sell and accept a 64k down payment and seller finance 576k and get $1920 for 300 payments. 🤔. The seller is happy getting zero percent interest for 25 years on his investment… BUT If he took a 6% interest for 25 years…he would have earned $532,000 in interest ONLY plus his 1920 principal. So he gave that up, cuz he got slightly above market rate🤔 Moral of the story…. Find a “extraordinary not smart seller”.
What is Seller Finance? Creative Real Estate Explained here: th-cam.com/video/6FXApQ1y2KE/w-d-xo.html
Pace had a great time talking with you! Thanks for having me!
Thank YOU bro. Appreciate you🙏
Hey Jake I would love to link up bro
Burg was mostly inspired by Germany settlers; reference to castle or fortified fortress
Very nice deal! Congrats! Thanks for sharing. Every video Pace produces gives you insight and knowledge. It's amazing content.
Thanks! Glad you enjoyed and got some value 💪
Amazing deal, thanks for sharing Pace! So much value
Thanks Zach!
Congratulations! Well done. Thanks for bringing these great examples, love it!
Jake is killing it🙌
This is fantastic learning material, I need to meet Jake!
Jake is awesome!
Great deal!! Thanks for sharing!
Thanks Robert!
Stare college area 👍 I’m here in York pa and helped build a new upmc as a union sheet metal worker here in central pa 🤟
That’s crazy I’m from Hollidaysburg ! You put us in the map lol
Great job.
💪
my congratulations, an example of good work👏
Yess! Jake is crushing it
That is awesome!
Marc! Thank you brother🙌
Give him his 🔟s!!!!!!
Seems like a beautiful market to be in :)
My fellow pa neither I’m south of harrisBURG lmao down in east York county . We gotta link up
Love it! Pace if you have time and can help l! I sold my place to an investor subject too and he went awol and won’t make payments any way I can get it back!?
How does seller finance nullify captial gains tax??
And how did he pay the remaining principal balloon without "refinancing"???
It lessens the effect just like selling one per year like he was advised, and you can refinance with the bank, refi with a private money lender, or sometimes the seller even gets so used to the mailbox money they end up being okay with continuing the payments and extending the balloon.
@@drakebonilla So you just get taxed on what you actually get paid in the year, month x 12?? Is it still 40%??
And I think dude said he wanted to have a low enough principal to be able to pay it off without refinance.. Lemme check... 22:55
Correct it just defers the taxes that would otherwise be charged at once, which in turn makes it easier to have tax deductions offset the tax charged.
And what he was referring to is he needs the principal to be low enough to go ahead and do a refinance in other words it needs to be low enough so that it appraises high enough for the loan he gets covers what’s left.
@@drakebonilla Ah, got it 👌🏻👌🏻 Thanks for the tips...
What is the amortization on the note? How is the payment so low
He should let guests talk. There is too many interjection to get to the material points.😂
How do you come up with the monthly payment on 0% SF ??
30 year amortization
So don’t u still have to use the banks to refinance?
Yes or private money with no bank
So an owner with a 640k paid off property getting $6400 a month in rental income …..decided to sell and accept a 64k down payment and seller finance 576k and get $1920 for 300 payments. 🤔. The seller is happy getting zero percent interest for 25 years on his investment… BUT If he took a 6% interest for 25 years…he would have earned $532,000 in interest ONLY plus his 1920 principal. So he gave that up, cuz he got slightly above market rate🤔 Moral of the story…. Find a “extraordinary not smart seller”.
Seems like a beautiful market to be in :)
Seems like a beautiful market to be in :)