All Forum Posts by: David Polcari

Any Austin note investors on here? I've been analyzing a deal a day using FCI as my source. I'm starting to get a handle on recognizing bad deals but am curious what kind of criteria y'all use for weeding out and getting to the more attractive stuff. I'm interested in attending any meet ups if there are any so let me know! Thanks,

Thanks everyone that answers my questions!

I've been exploring tax liens as I work my way through the various avenues of real estate investing. Something that's intrigued me so far has been the county owned tax liens in Florida. I've noticed a lot of the county owned liens have tax certificates that have been held over two years, up to 5-6 years in some cases. These properties have new liens up for sale but I'm hesitant to buy any because I'm not sure why the certificate holders haven't started the foreclosure process even though they are years past the required redemption period (2 years in Florida). What would cause a certificate holder to not start the foreclosure process or are these instances where they have started the process and they've just dragged out for a few years? What would be your risk exposure if your purchased the most recent certificate from the county? Thanks y'all!

Roy Oliphant thanks for that explanation, that was the answer I was looking for. I'm probably showing my ignorance a little by asking that but still new to all this and trying to figure it out. Thanks again!

Say a person owns their house free and clear and it's worth $100,000 and they decide to sell. They decide they want to carry a note on it. The seller agrees to take $20,000 down and finance the other $80,000. They then decide to sell the note for X amount of money to a note investor. Who get's the $20,000 equity after the note is sold to the investor? I understand the note seller gets the actual $20,000 cash when they sell the house, but who gets the equity once the note is purchased by the investor? Does the note investor realize the equity? Or do they only realize it in the event of a foreclosure? Thanks for any help in advance!

Hey all - I've been on Bigger Pockets for several months now and have been reading everything I can get my hands on, to a fault. Definitely dealing with some analysis by paralysis but have narrowed down what I want to focus on to small MFH and note investing. I'm currently working with a real estate agent to locate a duplex I can purchase and house hack to get started on that front. I need some help on the notes side though. First question is do you have to have any special certifications or licenses to buy notes? And second would be around generating leads. Is there a place where people list notes for sale like some sort of exchange, or do most people use marketing strategies similar to direct mail/websites to generate leads? Thanks for any and all feedback!

I've been doing a lot of digging on this and from what I've found its pretty difficult to get conventional financing even with an established LCC with a good credit history. If the banks did make a loan to an LLC and then had to foreclose the only way they could recoup that money is by taking the house back which a lot of the times won't cover their costs for the loan. I have heard of people buying houses using personal financing and then transferring the title to the LLC but that could trigger the "due on sale" clause and I'm not sure but I think the loan would still be under your personal name meaning you would still be personally liable for the mortgage if you couldn't make payments. If you're going to invest through an LLC it sounds like the best way to get financing is by being creative and using private money or seller financing, but if anyone has other suggestions I'd love to hear their point of view! I'll add another question related to buy & holds: is private financing a realistic option for buy and holds?

I encourage everyone investing in Texas to research the Series LLC's. I'm not a lawyer or an expert by any means but I've done some research and so far they seem like a win win for anyone investing in real estate. The way I understand it, a Series LLC in Texas gives you the benefit of dividing assets and their liabilities into different sub-LLC's, or series, while only having to deal with the start up costs of one official LLC. If I'm missing something please feel free to reply and expand on my comment, because like I said I'm not lawyer or expert!

First time poster here. Haven't gotten started yet but I'm interested in buy and holds in the North Dallas area. My brother and I are looking to partner and are seeking advice from a credible real estate attorney who is knowledgeable in multi-member LLC's. Any leads and or general advice would be greatly appreciated, thanks!