All Forum Posts by: David Tyrell

My partner and I are looking to buy a small commercial property 50/50. He has a small business that he would like to use the property for. How would you structure the deal if he is going to rent the property? I want to earn some monthly cash flow but how can I charge him rental rates when he is 50% owner?

I'd be interested in the 80%LTV for investment properties as well.

You might want to read up on the fair housing laws. See if there is a protected class in there that fits your description .

Thanks @Wayne Brooks.  Another odd fact here is that 2 different attorney firms are handling the sale(s).  They seem to be separate and distinct sales.

So, curious to hear from some experts in the NC Foreclosure/Auction world.  I've identified a house that is going to auction, but the 1st lien sale and the 2nd lien sale are within 4 days of each other.  The 1st lien is up first, then the 2nd.  I know ordinarily, the 2nd will be wiped out (if recorded after 1st) but has anyone seen this before?  

What would happen if someone upsets the 1st lien Auction which pushes the upset period out further than the 2nd lien sale?  Does pure race state play into this?

Thanks

I just did a promissory note using my IRA. Used equity trust and the process was pretty simple and straightforward. I'm no pro, but you may want to research self dealing. Not 100% sure if they would consider your mom self dealing as you are a relative. I'm sure someone on here with more experience can weigh in. Good luck

Sorry for dredging up an old thread, but I wanted to start here before starting a new thread.  Anywho - I have a question about the repairs Keller talks about in HOLD.  In Hold, he says to look for a 10% discount to find your offer price.  However, he never adds back the cost of repairs.  So if I'm buying a 100,000 house at 10% discount my offer would be 90k. But if there is 5k in repairs, aren't I buying at a 5% discount (95k)?  I would have thought the repair cost would be reduced off the offer price to preserve the 10% discount?  

Any insight would be appreciated.

@Account Closed - that's correct.  My offer was 165k giving me s 20k equity gain.  

Hi all, skipping the newbie introductions and going straight to the question(s).

Spent the last 4 months really trying to focus on my investment strategy and buy and hold it is.  

So i was just poking around the MLS, while i get my other lead sources up and running and found a property that fit my criteria (except the price). For some reason i had a gut feel and contacted the Seller Agent about the house and a viewing. Net/net:

- ARV - 200-5K

- Mortgage - $167K (i thought based on modification agreement i viewed online from 2012)

- Repairs - 15k

Viewed the house - total s-show.  Offer = 165K.  Realtor tells me (multiple times) she will terminate the contract (no commission) just so the seller can get out from this home, but says total outstanding balance 182K (guess there was a second and a few months late pay).   

Long story short, seller can't find 17K to make up the difference.  Are there any other angels here?  I'm ok to walk away, just wanted to know if there were other views i should/could be thinking about..??

Thoughts?  

@Jerry Puckett you just made my day!