All Forum Posts by: Anibal Zapata

Hello everybody,

I am fairly new to this industry but I have hit the ground running by learning and experiencing the market in various ways with several tools to make deals work. I stand for honesty, fairness, trustworthiness, integrity and holding people accountable on doing the right thing. I don't stand for liars and slackers for lack of better words. My motivation is my family and for them to be protected financially while also leaving a first-class legacy.

Thank you for the comments guys. I'm reaching out to him right away

Perfect how can I get in contact with him.? I'm knew to this . My current title agency is giving me problems with the double escrow closing technique.

And also if doing that double escrow from my initial question would that be illegal ? I ask because my title agency said yes they can do that but isn't sure if it's legal and was going to double check . I know states like Arizona allow this type of closing

Hey thank you for the replies . Fortunately I found an agency that would do a double escrow . And in regards of the link you sent me it talks about double closing as a transactional funding and I wouldn't be doing transactional funding . The adding the buyer sounds like a good idea but didn't I understand how that would work in the timing of things . As in, right before I close I can add the buyer? And send his info to HUD days after sending in my info and EM?.

Hello Everybody, I'm in the process of learning how to wholesale HUD homes. Is doing a double escrow in Florida legal? As in my A(hud) to B(me) would happen once I get accepted and once i send in all my earnest money and paperwork. Then wholesale it to an end buyer B (me) to C(cash buyer). So during closing my title agency would accept C (cash buyer) funds to close the A(HUD) bid accepted price and I would keep the difference. And everybody would be happy HUD sells home, I receive my wholesale spread and cash buyer receives great rehab home please advise :)

Hello BP, My parents and I need help. Well to start off I'm fairly new in the Real Estate world but I understand the potential in owning real estate is to develop Cash flow by renting it out for more than the full mortgage value. Unfortunately, my parents haven't been taking advantage in this opportunity. They currently own two properties not including the one we live in now. One is an apartment in Miami,fl and the another is a house in Hall county, Ga. The apartment has 750 sq ft and its a 2x2 property and its market value is about 75k its mortgage $851 including association fees and property tax and they are renting it out for just that. I went online and the average rent in that neighborhood for those same apartments are going for an average of $1253 (according to Zillow.com). The house in Georgia, a much worse problem, its a 4x2.5 with a full basement mainly used for storage. Its location is in one of the top rated neighborhoods in the United States (sterling on the lake). Its mortgage is $1617 that includes property tax, fumigation and association fees. My parents are renting it out for $1350 and the average rent for that type of house in that neighborhood is $1800(according to Zillow.com). As you can see my parents are leaving a lot of Cash flow opportunities on the table and are even losing money on a property. The lease contract for the apartment expires on April of this year but were hoping to terminate the contract earlier because of the current renters troubles in paying the rent on time. And the contract for the house in Georgia is a month to month contract. BP we need help in how to handle these properties so we can properly and legally start producing the correct amount of Cash flow. Like for example what documents or contracts we need to properly do this? What can we do to these current renters of the apartment? Do we need a lawyer throughout this process?My parents main concern is finding potential renters that would pay those averages and risking the properties being vacant.These are my parents properties not mine but would like to help manage them, the smart way, so they can start generating Cash flow so they can start saving for retirement. As you can see we need a sense of direction and help will be greatly appreciated, Anibal

Hello BP, My parents and I need help. Well to start off I'm fairly new in the Real Estate world but I understand the potential in owning real estate is to develop Cash flow by renting it out for more than the full mortgage value. Unfortunately, my parents haven't been taking advantage in this opportunity. They currently own two properties not including the one we live in now. One is an apartment in Miami,fl and the another is a house in Hall county, Ga. The apartment has 750 sq ft and its a 2x2 property and its market value is about 75k its mortgage $851 including association fees and property tax and they are renting it out for just that. I went online and the average rent in that neighborhood for those same apartments are going for an average of $1253 (according to Zillow.com). The house in Georgia, a much worse problem, its a 4x2.5 with a full basement mainly used for storage. Its location is in one of the top rated neighborhoods in the United States (sterling on the lake). Its mortgage is $1617 that includes property tax, fumigation and association fees. My parents are renting it out for $1350 and the average rent for that type of house in that neighborhood is $1800(according to Zillow.com). As you can see my parents are leaving a lot of Cash flow opportunities on the table and are even losing money on a property. The lease contract for the apartment expires on April of this year but were hoping to terminate the contract earlier because of the current renters troubles in paying the rent on time. And the contract for the house in Georgia is a month to month contract. BP we need help in how to handle these properties so we can properly and legally start producing the correct amount of Cash flow. Like for example what documents or contracts we need to properly do this? What can we do to these current renters of the apartment? Do we need a lawyer throughout this process?My parents main concern is finding potential renters that would pay those averages and risking the properties being vacant.These are my parents properties not mine but would like to help manage them, the smart way, so they can start generating Cash flow so they can start saving for retirement. As you can see we need a sense of direction and help will be greatly appreciated, Anibal