All Forum Posts by: Christie Gahan

I've never heard of a 506 (b) syndication.

There is always something new to learn!

: )

What do you say when trying to have a "cash for keys" conversation ?

HAll !

I am looking at a deal to purchase REO duplex. There are currently folks living there. I have no idea if they paid rent or owned it .... How do I evict them ? Oregon law states that squatters have the same rights as tenants. Any ideas ?

Wow!  Talk about taking massive action.  Congrats!  Just to be on the safe side, start building your "**** happens" money pile.

It is my understanding that the SEC rules that only a "Qualified Investor" can participate in these types of deals.  Which means one million cash.  What is a good direction for those of us who don't have a million cash ?

If you are the actual syndicator, do you have to be a "Qualified Investor" ?  

~ Christie

I have a loan set up with a HML. The comps that I am getting back from contractors are showing that this deal will be a lot skinnier then I would like. Even with me doing some of the manual labor. I know I will lose my earnest money. But, how will this effect my ability to borrow again ?

Also, have you had the mold tested ? This could work for you or against you in court. If you can prove that it is not toxic mold that will limit her future claims. Put this duplex in an LLC

Are you documenting the cash for keys / assistance moving ?  

Let your friendly local police know that you suspect drugs and prostitution.  

Another foreclosure house that has been sitting vacant.  Squatters moved in at some point.  Graffiti, etc , etc .....  But how do you clean out a toilet that has been full of waste for months ?  Pour concrete on it ?  Any chance it will flush when the water is on ?  Use bio enzyme stuff for septic tanks ? If you do remove it "full" where do you take it ?  The dump ?  Sorry, bad pun.

Another foreclosure house that has been sitting vacant.  Squatters moved in at some point.  Graffiti, etc , etc .....  But how do you clean out a toilet that has been full of waste for months ?  Pour concrete on it ?  Any chance it will flush when the water is on ?  Use bio enzyme stuff for septic tanks ? If you do remove it "full" where do you take it ?  The dump ?  Sorry, bad pun.