All Forum Posts by: Jeremy Cochran

I am currently taking the California courses with Real Estate Express. I like the flexability and the all online courses but I don't like the time limits for the courses. The price was so low that I was worried the material would be poor but so far it's been good.

Smart, but it always makes me cringe when I see people lie or mislead.  

Welcome!

Hi Lynn, thanks for replying.

For me it would depend on the situation. I believe you shouldn't expect legal advice from a lawyer that isn't working for you or at least going to be representing you if every thing goes bad.

When I read your question I was reminded of a time I thought I hired a lawyer to help another person and myself (this was not real estate related). When a desagrement came up I was told by the lawyer that he could no longer help me. He said he would be representing the other person from that point forward because he was originally approached by them first.

Someone said that legal help is like insurance. That 1k could end up saving you a lot of money without you ever even knowing it.

Hope that helps, JC

Hi Ryan,

I don't have the experience to help you but it seems to me out of state might be tuff for your first. 

OK

I read several forum posts and blogs before I posted this and then some more after. I was just trying to get some more current information and hopefully start a conversation with someone that has hands on knowledge.

The seller should look out for he same stuff they would normally do or that a lender would do. They should also make sure they really want to take this kind of risk. Sounds like some people use this as a tactic to try and string out the seller and renegotiate later for a deeper discount. Not that that's bad, just that they should consider it.  

Looks like you should always use a lawyer in these situations.

Granted I only spoke with one but from what I understand a broker would try to come up with some creative financing or private money to make the deal work rather than assisting with structuring the loan.

It seems like a lease option or some other rent to own program would be easier to get the property back if it fails but you wouldn't be able to get a substantial down payment. Also you would be liable for the property still as on its still yours. Property tax, insurance and what ever the buyer is doing with it (meth lab, pot farm, antique collecting).

If you have a few minutes and notice anything I missed or am wrong about here please feel free to point it out.

Thanks

@Kai Hicks The Multifamily (House Hacking) would be finding an acceptable property we would be willing to live in while managing the other rental unit or units. Rehabs would depends on the scale, I would do smaller stuff myself but I don't currently have the time for larger projects without depending on a contractor. Of course the long term goal would be to only get hands on when I really want to but starting out I believe in doing as much work as I can. It always feels good to work on my own property rather than someone else's.

Sorry

(Kai)

Welcome to BP Kia.

I'm in the same boat but I am really interested in Rehabs and house hacking multifamily properties.

Welcome to BP!