All Forum Posts by: Dion DePaoli

Yes. This can be an issue. The open permit creates a cloud on your title and a new lender will not lend on the property until their chain is clear. What the title agent is telling you doesn't sound like the answer to your question. If a permit was opened and closed properly it will not cause a problem. If it was not then it will be a problem. Some title agents will assist you with cleaning these issues up and some will ask you to do it.

If you have put an offer on the house, then you might want to work with your seller to resolve the issue. As the buyer you want clear title to the property.

It is not clear whether your HELCO has a balance or not. As Jon stated your real hope is try and refinance out both positions provided your home still has enough equity to meet the lender's requirement to do so. In regards to getting a lender/bank to subordinate in today's climate is going to be tough. The lender you are speaking with should be able to provide you with some options for this and if they can not, I would shop elsewhere.

Greetings Bigger Pockets,

Dion is my name. I have been in the real estate industry for well over the last decade. I have purchased and sold real property both commercial and residential. I have also work much of that time in whole loan mortgages and capital markets.

I do enjoy these on the ground conversations with industry vets and newbies alike. I think my alternative background and experience can be of value to some of the folks here and I hope to garner the same from others.

I am friendly and I am passionate about this industry and what I do and I am willing to share (which sometimes is in excess) what I can so please feel free to poke or jab at me as you see fit.

I look forward to the use of the site and getting to know some of you better. Thanks.

Greetings all,

I joined this site as some of the conversations intrigued me as I browsed through. Particular those topics surrounding the investing and brokering of whole loan mortgages or as many refer to them "notes".

I saw that the "Bulk REO" thread was taken down from the lack of legitimate experiences that could be supplied. That was likely the best move.

For the record, I have participated in sales of pools of both mortgages and real property. The real property pools have been almost non-existent over the last several years and really is simple math. Albeit, I have also been working in the capital markets where most of these deals take place.

In today's market we deal primarily with whole loans and any REO that comes with it is just a bonus but it is not really of any great number or size.

I have seen some of the folks who advertise the note buyer classes as well as the brokers who advertise the trillions of dollars for sale. Both are an unfortunate waste of time.

So does that mean purchasing these types of assets is unattainable? Nope!

There is actually a desire and need to link the sale of these assets to more localized "on the ground" investors. The issue is bridging that gap.

If you are an investor or broker who seeks these types of investment opportunities that let's chat.

I will tell you in advance, there is no NCND crap or 57 phone calls to attend. I will also tell you, there is no "compiler" or "mandate" or any of that other hogwash. Its really a straight forward business and I have been in the business for many years.

I have recently opened a company that works with firms and investors on analysis and disposition of mortgage related assets. Our client base includes small street level investors as well as institutional firms. We actually have managed investor accounts as well as client accounts who we sell into and they take care of their own management and servicing, etc.

So, if your an investor in this space or are interested in learning more about this space, I would love to hear from you. If you are a broker, as long as you forget what you learned on the "street" we will get along just fine, would love to hear from you too.

Feel free to post same topic questions here hope to help on these discussions moving forward as well. Thanks.