All Forum Posts by: David Ho

Its very easy to get 5 year history taxes. your agent must not be well versed in these . If you need an agent that can be more due diligent with there clients let me know.

umm why are you offering cash for keys?  Renter correct ? Did the seller offer you rent deposit credit? is the asset non performing and the sellers just gave up and said sell it?

In cash for keys , I would make sure you have a drop date no extensions and on that date meet them at property inspect it and then hand them the certified check (U can still cancel it ) 

I wouldn't do the deal to be honest, unless its a huge discount to the market, Its the sellers problem that will soon be your problem and it would become a squatting issue.

Good luck 

Bank doesn't care what the property needs it is reflected on the price. They get that info from the BPO. You can show all them all the info you want. They don't care. They want to know if it is a good bid and if you can quick close. Good luck. 

I would only do it if it was section 8, your then protected on the income stream. In the last tax changes, if you buy and hold for 10 years in federally guided tif's  You are not subjected to capital gains tax. I would see if the area you are looking in qualifies.

I am going to flip it. The property's junior is only 20k .. Upon closing on the flip... I'll just escrow it until September and it will return to me ...

In the process of closing on a property and I get this email. "There is a junior mortgage loan that is still on title, and will not be removed until 9/10/2019. There is a one year right of redemption from the date of foreclosure on government loans.

Please understand, we can only close if you agree to sign a Hold Harmless. We will take exception to the lien on your title policy. This means we will not be held responsible if HUD decides to redeem the property."

Has anyone been through this process on purchase , One side of me says, its HUD they won't redeem. But then I have an issue in the event I attempt to flip the property until 9/10/19.. Thoughts

All:

 Anyone use the Bigger Pockets landlord lease agreements?

The glazing kit is $50.00 @ local HD.. We did have someone do another property and my wife paid $400 It came out like new.  I would pay 300 max to do it . 

Send them a 90 day notice to terminate the rent " For remodeling purposes"  sometimes you need to shoot one to save many.

It's an illiquid investment vehicle that individuals should stay away from, If you were in a group that had several of these, Performing then I would consider.