All Forum Posts by: Arcinio Arauz

Would any one recommend a few reputable FSBO sites. I'm looking to assist a friend that wants to sell all 16 of her properties. I tried my wholesale buyers but they (like me) want stuff cheap and she wants to sell at retail without the expense of hiring a brokerage company.

Thanks for the replies... The balance on the LOC is 100k. House is worth 250k. Do you think B of A would readjust the LOC since original owner passed away? Can we settle for less on new terms?

sorry for the errors and typos... Posting on my phone . :) 

A friend of mine is successor trustee of a trust with ver  a nice home. The trustee (his mother) passed away. We found that the home was paid off however, his mother took out a line of credit using the house as a collateral. She was a heavy gambler and evedently the line of credit was never paid off before she passed. It's been since 2012 that the line of credit hasn't been paid at all. 

I was wondering. Does this type LOC work the same as mortgage....will Bank of America forclose? Someone told me that ey they would just tag a lien to the property. My friend wants to keep the house but B of A wants 25k upfront to bring loan current. Should we worry about bank taking the house?

I' ve been using  propertyradar.com to find home owners, current tax status, liens/ mortgages as well as a few other small helpful things when doing wholesale deals. I understand that I can look up owner info at county offices but are there any online programs that offer free info such as what I mentioned above? I pay $59 a month with PR. My county does not allow to see such online through there county site. Any suggestions? 

Hello BP,

What would you recommend for calculation of RIO on residential homes (fast flips and holds). Also...RIO on commercial properties. I'm looking for the easiest, reliable online program or software (free) and also any apps for IOS. Interested in finding cap rate by just plugging in numbers.

Thanks

Kinda what I thinking. We have proof of who the successor is but he won't do anything. I assume the taxes will continue to go delinquent and then the county will sell it after 5 years of delinquency.

I have my eye on a house that is owned by a trust. The trustee passed away. I found that there is a "successor trustee". The man claims that he is not the successor and wants nothing to do with the house. I offered to pay a cash token if he would sign the house over quit claim. He then reaffirms that he wants nothing to with it nor is he responsible in any. An attorney informed me that he is the successor. Also, I found out the tax bill and other bank statements on the house is being sent to his address. The successor is a pot head. Yet he won't do anything. Do I have any chances on scoring anything here?

I have a list of current tax delinquent properties in my county that I have scrubbed and filtered through. Out of about 195 properties on the list, only about 25 are worth spending any effort on. I MAY get 3-5 leads or responses if that. 

I was wondering though... some of the properties I have seen on the county tax deed sales list have liens and maybe a loan against it.  If say the county sells the property and there's an excess of funds left after taxed have been paid, would the county pay the 1st, 2nd lien holders? What if the 1st or 2nd lien holders don't receive what was owed to them? Do I as a buyer still get the full deed minus the liens?

What is CAD?