All Forum Posts by: Faraad Mohamed

Hey @Nelressa Faye, I am looking for halal hard money financing as well. I called Bank of Whittier in California and Dallas and they said they don't provide that type of financing. Could you please share the information you were able to come up with? I have several investors down in the Houston area looking as well

 Gotcha, thanks for checking on your end for me!

@Mike Cumbie Hey Mike, in my market we use Matrix as well and I followed your steps posted in this thread but the email addresses say "click to e-mail" and it appears one would have to click each one individually to get the e-mail address. Did you find some way around this or is it different in your market?

@Alvaro Rodriguez foundation problems are very common nowadays especially with older homes. I would suggest taking the 20k reduction and shopping around for additional foundation quotes to see if you could get the same work done for less. The lifetime warranty on the work that foundation company does sometimes is not transferrable so if you take the reduction and select the company yourself, you know you have that warranty in your name. I would also suggest looking for a company that offers a transferrable warranty because that will be a selling point if you do decide to sell. If you decide to hold it and rent it out, you have the peace of mind knowing you have the lifetime foundation warranty.

Last point, if you live in the house for 2 years before you decide to sell then you can avoid the capital gains taxes on the profits. You can talk to your CPA about this in more detail to get a better understanding of the timelines in regards to capital gains taxes. I hope that helps!

Hey @Vijaianand Thirunageswaram, in regards to your "proper planning" comment above regarding taxes, I'm just curious on how you structure your deals to help offset the hefty property tax bill in Texas. Would you mind elaborating a little more?

 Hey Mark, I'm interested as well. Could you send some contacts my way? Thanks!

@Patrick Meade hey Patrick, sorry to hear about this unfortunate situation. Disclaimer: I am not an attorney, and I'm half asleep but my addiction to BiggerPockets is forcing me to respond. Please excuse any typos and bad grammar as I'm typing this response from one thumb and half closed eyes.

It sounds like this may end up having to be handled in court in which case that will probably take a significant amount of time and the current buyer for your home may not want to, or be able to, stick around for that long until this gets figured out. If that's the case, in addition to asking for reimbursement of your attorney's expenses, calculate the holding costs of how much it costs you daily to live in your existing home (holding costs) and keep track of how many days it has been since the original scheduled closed date and make sure to include reimbursement for those days in the suit as well. In addition, you can also sue for emotional damages due the the stress this has caused you and you family for not being able to move into the new home you desire to be in, in the time frame you desire. I hope this helps and I hope things work out for you!

@Tyler Smith welcome to the BP family!

Superior Title and Capital Title

@Brennan Perry The deals are definitely out there you just might need to tweak how you go about trying to find them. You could either scrape the MLS for hours upon hours or have deals sent directly to your inbox daily. If you're looking for the latter.