All Forum Posts by: Fernando Vargas

@Ron S.

Correct me if I’m wrong, but from what i know the lastt thing banks want is a home on their hands, because someone did not make their payments. Its a headache and a loss of cash for the bank on short sales, holding the property till everything clears ect. I imagine even more in times like this? So imagine if someone is already behind 7k in mortgage payments then you suddenly bring the loan current and start all making payments on time. I would imagine they wouldn’t mind, they would cash the check. Curious on what you guys think

@Devin Bost

Yeah lots of people do these types of deals. From what I understand you could make up the payments that are keeping them in the negative, then pay their mortgage on their behalf. You need the right paperwork ect. And you should be good. Look up, Chris Golf seller financing on youtube. He was a ton of help to me with his videos. Hope this helps

Hello everyone I’m currently jobless and just got laid off about a month ago (fieldwork). Im in California. I saved almost everything i could and have enough to start creative real estate strategies like lease options and seller financing. I was paid pretty good and would work 12 hour shifts. I just found out I’m eligible for unemployment benefits and was wondering if it would be against the law if i were to receive monthly cashflow or down payments (less than $10,000 per deal) while receiving unemployment benefits? Last thing i want is to get hit with fraud especially just starting out.. I did my research and various people said they did it since technically they aren’t employed, but i want to make sure that would be legal in California. Anyone have any experience with this? Also keep in mind my buyers would eventually buy the property with these strategies and i would receive a nice profit but that is at least a year into the deal so i should be fine since it expires yearly? I’ve been doing heavy research/saving for a year and finally looking to jump in. I would really appreciate the help I’m actually looking for my first property now and i need to make a decision asap! Thanks in advance :)

I have a contract that I’m using for seller financing that id like reviewed by a lawyer so i could add any laws or codes that are left out. I found a lawyer online on upcounsel.com that charges me a flat fee of 800$. Im wondering if this is average for a contract review or if its a bit higher than average. I don’t mind paying it, but I’m just wondering if i could find a better deal first. Its 3 pages long and im located in Bakersfield Ca. Thank you!

Hey everyone. I have a real estate contract that im using for seller financing. I need to know if theres any local codes or laws that i have to add into it before I could use it. I tried calling local lawyers but mostly all said they couldn’t help or redirected me somewhere that didn’t help either. If anyone has any advice or knows any lawyers that could help me out please let me know. Im in Bakersfield Ca, but I’m willing to drive anywhere around California to get this done. Somewhere like los angeles is preferred but i’d really drive out anywhere in CA if you guys know someone thats great with this. Thank you