All Forum Posts by: Charles Yant

@Alayna Bonds Thank you for responding. I'll definitely keep you in mind if one comes up that would be profitable. The two properties I am currently helping get together seem at moment as will go to close. What are your interest types primarily other than profitability?

@Doug Meeuwsen Cozy is good all around platform for beginners. If all you are worried about is payment not all the extras Cozy helps with Cash App is easy and you are instantly paid no waiting or processing payments right when they send then it is available to you. They do instant deposits to your bank account or free for 3 day wait as well as you can receive a Cash App debit card and just leave it on there and use as needed like a regular debt card. You can also see pay history with dates and total overall they have paid you.

@Michael Plante Best advice yet. Does not hurt to try. I'm new to lot of it when comes to real estate but even I've already seen a bunch deals missed because they did not think offer would go. Takes nothing to make an offer. Most people price ridiculous knowing people are going to offer lower. So they put it high hoping to level around their real acceptable offer. Same as any thing most people sell. Never pass up because scared make offer. They may not find another buyer and then come back to you and ask if you still want to make offer.

@Nelson M. It has to be the county in which the debtor lives as far as I know. Also it's a read but this link should be helpful. But a skip tracer/leg man could acquire the debtors address and info for you. And once had notice made up could also deliver it in hand to them as proof they recieved and start the 21 day wait. The link to help law wise. http://home.olemiss.edu/~mhoffhei/mscflaw.htm

Before trying to register it, the judgment has time limitations in Mississippi. Contracts, oral or written, and Promissory Notes have a statute of limitations of 3 years (MCA 75-3-118, 75-2-725, and 15-1-49).

Open Accounts or credit card agreements have a statute of limitations of 3 years from the date at which time the items on the account became due and payable (MCA 15-1-29 & MCA 15-1-31).Judgment liens on real estate, orders by a court of law allowing a creditor the right to take possession of a debtor’s property after he or she failed to meet duties under an agreed up contract, have a 7 year period of limitation, but may be renewed by filing suit to renew the judgment prior to the expiration of the 7th year (MCA 15-1-47).Deficiency claims, or the balance left on a foreclosed mortgage, has a limitation period of 1 year from the sale of collateral (MCA 15-1-23) as do enforcement of construction liens, claims against property by a contractor, from the date the lien is filed (MCA 85- 7-141).

I would register the debt in Mississippi, skip trace the debtor, then serve notice that it is registered in the state and have legal right to collect. And then go forward with efforts to collect.

Without any details only thing to say is verbal agreement can be just as binding as a contract. If the seller is committed to selling then they need to stop with the verbal agreements and stick to the rental agreement then pursue eviction for non payment.

If you had a deal that would basically give one small rental house free and selling second house by itself would do about 10  percent gain on initial investment plus repairs, would you pass or pursue? Basic story is this: The owner is investor/entrepreneur that has been in over head and has had issues paying taxes since purchase 2015. Ton of debt from loan after loan to fund next project including her family's projects. Every year tax lien has been sold. Owner has redeemed all but 2018 and 2019. I have their info and discussing agreeable redemption and  after talking with the property owner she agreed to sale. Other oddity thru her lawyer only. Both houses currently under lease. One for $400 a month and one for $650 a month. Both are livable but need work. Would it be better to wait her out or continue course? All together back taxes and current will be around $3,500 plus bout 15,000 repairs. I want to pursue it but same time do not know if first time jitters dealing with owner straight up or my gut honestly telling me walk away.

@Jay Hinrichs Sincerely thanks for the tips on the test. 

@Jay Hinrichs It's illegality revolves around fact we are non disclosure state. And Thank you. I hope do well as well I've been told 40 percent fail their first test here.