All Forum Posts by: Cody Cross

Yea it's filed at the court house against the property.

Hey everyone! To keep it short, I have a deal where there is a judgement against the property. Usually, it's as simple as calling the lien holder to get a payoff and getting it paid before closing to clear up the title. In this particular circumstance, the lien holder was bought by another bank and the current bank cannot find her account anywhere.

So, we need them to sign a form that is stating the account no longer exists. We've spoken to numerous people and supervisors and the best thing they can do for us up until this point is send a P.O. box for us to send a letter requesting the proof the account does not exist anymore. 

This will take another 30-60 days to receive (if they actually write us back). Has anyone else experienced this and did you find an alternative? these aren't local banks. It's synchrony bank that is supposed to have the account but doesn't. Mind boggling, I know. Who has dealt with something like this and maybe has a connection to synchrony bank? Thanks in advance!

I have two deals under contract currently with 10 days left during the inspection period. One for $55,000 (1800 sqft) and one for $100,000 (1400 sqft and an attached apartment). They both need a new roof and one needs repair for water damage. Our area was just hit by a cat 5 hurricane 2 months ago. I have other investment property that was destroyed and was cash flowing $800/month net. Going for a total loss right now from the insurance company. My goal is to buy 5-8 properties here and put them with a management company before we leave to go and do travel nursing. We have a decent income and very solid DTI and am sitting on a good chunk of cash. I'm already working with a lender here but they aren't fond of the brrr method and are a super conservative bank. Who can help?

@Nnamdi Okwerekwu

I think you should just do it. My first flip, we made almost $0 on but what I learned couldn’t have been read somewhere or told to me by someone.

Don’t listen to friends or family and don’t take advice from people who don’t know real estate. Hope this helps, God speed.

@Brian G. thanks for the response man! No, haven't really thought about that honestly. I've never played in the space. 

Hello! I’m Cody Cross. I’m an investor/realtor in my hometown Lake Charles LA. (Southwest Louisiana near New Orleans).

My fiancé and I are getting married in October and are planning to travel the country for her travel nursing gig at the beginning of 2021.

I’m actively selling real estate and currently own a few properties myself and have been involved in multiple other partnerships so I’m not a brand newbie (but still a newbie) to real estate.

I was wondering what some thoughts/ideas were on how I could still practice real estate from a far? We’ll probably be cycling through different areas/cities every 3 months for at least a year.

I’m thinking about flipping, wholesaling, or continuing to build my listings in Lake Charles from a distance for my personal income. We won’t be super strapped for money/income so I’m thinking big picture. Any ideas??

I have a deal under contract currently for $130,000. It's a tri-plex in Louisiana. I'm in contact with a local commercial bank and the seller is willing to finance the deal at 8% on 15 years or I can get a loan from the bank for most likely 5% 15 years.

The property is in a flood zone. Flood insurance after raising the small structure will only be $1,800/year.

Both will require 20% down most likely. But, what if I could convince the owner to let me do the deal with 15% down? What are your thoughts? Thanks!

Property currently cash flows 1,450. Has potential for 2,650 very quickly.