All Forum Posts by: Clayton Silva

Learned this one the hard way. NEVER let someone stay at your Airbnb if they are local.  For whatever reason it only leads to trouble.  

 I'm not sure, I would consider talking to the real estate agent listing the property currently to see if they are getting offers, or interest at the current price and if they are, I would relay that to the first lienholder.  

Definitely try to connect with a real estate attorney to determine your options!

The One Brokerage Team will be there!  It's going to be a blast! Would love to connect

Just based off quick math, you should be good to go.  Sale price of 335k mean the seller would net somewhere around 308k after paying realtors, title fees, etc.  308k - 195k leaves 113k.  50k of that would go to you, and that third lien holder is going to get what's left which sounds like not much.  The third lienholder would be lucky to get 50k honestly.  

I am not a legal expert nor a foreclosure expert, but if the house is actually worth 335k, then my best guess is that you should be in pretty good shape!  I would definitely contact a real estate attorney in your area or some kind of foreclosure expert just to be sure.

We can always help you order an appraisal as is to determine what might be the best upgrades to make.  It would put you out about $600-$800 but at least you would have a pretty good picture of what it is currently worth and what it could be worth after rehab.

Not sure that you necessarily need any other financial experts, but at a certain size you'll definitely want to have a legal or team of legal experts for all things corporate structure, tenant management, etc.  Truthfully, I think some of the best experts in my corner right now are good real estate agents in their respective markets that are also investing.  Their insights tend to be invaluable for me personally.  I like to think that we lenders are great resources especially correspondent/broker lenders who work with a wide array of lenders and lending products to help people navigate different scenarios.  Hope this helps!

Well done! Who did you use for your HML? I'm looking to dabble in flipping here soon too I think! Congrats!

@Joshua Bautista I'm based out of Northern California, but we service all of CA for lending and about 40 states in total. Would love to connect 👍🏼

What event/speech/speaker or other is everyone most excited about seeing at this year's BPCON2023? 

Hey Donald, shoot me a DM and I would be more than happy to help!  We do a lot of work for first time homebuyers and there are a lot of things I wish I had known when I bought my first house.