All Forum Posts by: Erik Garland

As always. Depends on the area.  I'd suggest talking with an attorney to make sure you know for sure whether the tax lien is senior to any other liens.  I believe they are...and they can wipe out junior liens.   All except for IRS liens which I think are super over everything.  In NC...the attorney will do a title search for around $150-$250.  I've also called , I believe the state tax office and they were able to tell  me if there were any income /irs liens (maybe it was county).

There are websites that will do the search for you...Not sure if you can pin them down for title insurance in the event they got something "wrong"!!

I used batchskiptracing.com. Price was great.  Accuracy was not too bad and the minimum was not too bad.  I got an opportunity to TRY it out before fulling committing to the that lead generating route. 

I believe the answer is yes.  But they are not taking the full value of that passive income...More like 75% of that gets credited as part of your income.  Good luck. 

When picking tenants:

1. Cash is NOT king. 

2. Stick to your criteria

3. A good salesperson at application will try JUST AS HARD...to convince you why they cannot make rent

4.  Tenants you store cash in their mattress may be hiding from collectors/debts...or just not have enough money/reserves to justify a formal account!!

Hmmmm @Craig Coleman.  OOOO...looking closer into the document.... Habitat for Humanity got the TRUST DEED by lending 50k or so on the house!! Wow..I did not know that they lended money on homes.  !!  The same document shows they obviously lended money on 2 dozen other homes!! 

Hey BP...Why would an owner grant  a trust deed to Habitat for Humanity?  I'm doing some deed scanning and it's not obvious to me. 

Thanks

great thread.  a basic clean new finish is preferred by anyone.  Shortens vacancy time.   Sometimes more money means better quality... sometimes it JUST MEANS MORE MONEY.  Otherwise ...VET your tenants.  That's the biggest trouble with high turnover.  If you get bum tenants you're going to regret it everyday . Just my two cents!

Hello Bigger Pocket!! Quick question.  I just acquired a house in a c- area.  I will likely use a minisplit for heating/cooling.  Right now there is a double storm window system.  A few of the interior storm windows need to be replaced. I don't have any experience with this setup.  Should I just replace all interior storm windows with single hung replacement windows or would using new storm windows be alright.  Rent is expected to be 450-500/mth.  

@Don Konipol Thanks Don.  Secured loan against my properties with Personal Guarantee is EXACTLY what the lender is offering. I'm certainly okay with that.  Once again, if I pull the trigger I will be sure to have plenty of wiggle room.  I will likely over borrow a hair to alleviate repayment strain.  IN and OUT 3-4 months. ;) 

With your advice, I will take a second look into hardmoney.  However, with the secured business loan, the payment burden (lack thereof) appeals to me more. No early payoff penalty, etc.  

@Brent Coombs Thanks for the response.  Yea...  I found this guy through a contractor...hehe...he's a pretty good salesman...but I'm sure he saw the skepticism written over my face.