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Updated over 4 years ago on . Most recent reply
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Looking for an attorney to handle Land Trust Subject To's-Atlanta
If you have a recommendation on law firm who can handle land trust subject to transactions would love an intro.
- Greg Kurzner
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Most Popular Reply
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- Rental Property Investor
- Clarkston, GA
- 1,918
- Votes |
- 2,040
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Hi Greg, I hate to see new investors who get a good sub to seller lined up not get the docs and closing right and worse not know the critical steps after closing. I give out a sub to training pdf and hvae an attorney with many offices who helps. in Sub to you need knowlege #1, the rigth doc set #2 and #3 an attorney willing to do them.
I closed one 8 weeks ago in Chattanooga and I called 3 attorneys who did them for me prior and all said they aren't anymore. LOL GEEZE. Which I have great karma,,, I called a few investors and was refered to a fantastic investor friendly closer so net net I was way ahead. Thats what happens when you are good at solving problems, some how the solution springs forth. :)
I have at least 2 attorneys in Atlanta area. PM me.
For others here, Greg you might post your numbers for feed back on whether you hvae a deal? I'm working on a thin deal sub to now but will go ahead because I like the neighborhood and floor plan and its a ranch on a large flat lot.
What I look for; margine between rent and PITI to be no less then $300. The one 8 weeks ago was $600. The one I'm looking at now just $300. Equity; balance due + closing costs + rehab I want to still be at or under what I could sell it for. I do rental rehabs, keep cabinets so it won;t appraise for ARV (granit / new cabs and baths) but I want equity. Seller has to be willing to walk for what they owe. Only if the house is great, great schools would I consider being upside down post rehab. I'm conservative and advise others to steer clear of taking undo risks. Being too eager to get into a deal is a bad thing.
Otherwise glad to help.