All Forum Posts by: Cheyenne Davis

I'm looking to get into the Denver area market. We are very active investors in the Central Florida market now and will remain so, but are moving out to Colorado. I know it's a hot market and don't expect things to be the same as Florida, but I'm looking forward to meeting some successful investors in the Colorado. At this point, I don't know a whole lot about the market, as our move isn't actually business related. Any information that can be shared from local investors in here would be much appreciated. I posted this in the new member area too, but figured since I have a pro membership maybe I'd get some answers from more experienced investors in the Colorado area in this pro forum ☺️. Chey

I'm looking to get into the Denver area market. We are very active investors in the Central Florida market now and will remain so, but are moving out to Colorado. I know it's a hot market and don't expect things to be the same as Florida, but I'm looking forward to meeting some successful investors in the Colorado. At this point, I don't know a whole lot about the market, as our move isn't actually business related. Any information that can be shared from local investors in here would be much appreciated. Chey

I just got off the phone with the "expert" that we hired. He claims they can't find the hive, which is why they haven't been able to successfully get rid of the bees. His new solution is to have one of our rehab guys put a bee suit on and cut the ceiling where they now believe the hive is located. That's the only way to access the area. Then they will come in and spray the area, which should kill them all. If the hive isn't in that area, they will have to cut a few more exploratory holes to locate the hive, then the job will be completed properly. The other option is to accept the refund that they've offered us and start back over with a new company. Very frustrating... Also - to tent the house will probably be several thousand dollars. As a last resort, that may be our best option, but at this point I'd prefer to handle it in the most cost effective way possible.

I just got off the phone with the "expert" that we hired. He claims they can't find the hive, which is why they haven't been able to successfully get rid of the bees. His new solution is to have one of our rehab guys put a bee suit on and cut the ceiling where they now believe the hive is located. That's the only way to access the area. Then they will come in and spray the area, which should kill them all. If the hive isn't in that area, they will have to cut a few more exploratory holes to locate the hive, then the job will be completed properly. The other option is to accept the refund that they've offered us and start back over with a new company. Very frustrating...

We have a house that we are rehabbing and it has an African Killer Bee infestation in the attic. It's a small attic and the person we hired can't actually see the nest, but there's definitely a huge amount of bees. They sprayed 22 days ago and claimed it would take a max of 10 days for all of the bees to die. 10 days came and went and the bees were still there. They came out and sprayed again, with the same 10 day story and now we are on day 22 and the bees are still alive and kicking. Does anyone have experience with bee infestations? If so, how long should this take? And any ideas on how to actually get rid of them? Maybe it's time to find a new company?

Here's the situation...

Seller is an investor who has run out of money and can't rehab a house he bought. There's a decent spread in the deal and we were going to buy it, fix it and flip it. However, our hard money lender got cold feet and won't fund it. In hindsight, I don't completely blame him, as IF something went south the deal may be a little tight.

The seller is open to partnering up and I fund the rehab, then split the profits or deeding it over to us if we pay him a little bit up front. His underlying loan is a hard money loan though, so I don't like the idea of transferring title and taking subject to, even if it's just going into a land trust that we own.

I'm trying to figure out a way to protect our investment capital on the rehab and then be able to resell the finished product for a nice profit. 

My initial thought on the safest way to structure it was to keep the property in the sellers name, attach a lien to the property, get a POA and written agreement so we can sell if he changes his mind or disappears, then rehab and resell. The glaring problem with that idea would be if the seller defaults on other loans or has any kind of financial trouble from the time we start the rehab to the time we resell, another lien could pop up and we would have a problem. We would have to foreclose and payoff the mortgage in order to wipe out that new lien.

Any of the creative real estate experts on here have any ideas? There should be money to made on this deal if I can figure out how to structure it properly and protect my interest.

"reviewed" is a bit vague :) Do you know if there's any language in the guidelines which says multiple transfers within 12 months will disqualify it from FHA funding? I read in one thread here, from 4 years ago, that multiple transfers will require a 2nd appraisal at sellers expense, but then there were other people who stated it disqualifies the sale entirely.

We don't typically buy from wholesalers, but we found a good deal that a wholesaler has under contract. It's an REO, so we will need to double close. Our intention is to renovate the property and resell within the next few months. My question is, since title will change hands from him to us, then to our end buyer, will we have a problem reselling due to multiple title changes in a short period of time?

I tried researching on threads here to find the answer, but could only find a thread from back in 2011, so I'd imagine the rules may have changed since then.

There's a good chance our end buyer could be using FHA financing.

Assigning the contract isn't an option and neither is having the wholesaler buy it in an LLC then is buying the LLC.

One idea that I did think of, IF the multiple title transfers is going to be an issue, is to go ahead and double close but buy from the wholesaler to us into a land trust. Then maybe it would appear that it was just a transfer into a trust for asset protection or tax reasons (by the wholesaler), especially since banks won't let you take title into a land trust. Thoughts?

That's a great response to someone who calls and yells at you for mailing them. I've never understood why people take the time to call and complain when you send them mail...

Just curious as to how the closing with Homesearch turned out? Any surprises or issues you can share? We're starting to bid on some of their properties...