All Forum Posts by: Bob Flynn

@Jeffrey H. I just read this thread.  Did you happen to come across the list of 75% of states that had tested grandfathering laws?

I have an accepted Letter of Intent to purchase a mobile home park in Florida and need to draft a purchase and sale.  Does anyone know an attorney with extensive mobile home park experience that can help?

I'm a member of a partnership that purchased several four-plexes last year.  I have reviewed my CPAs draft tax return and they have allocated 25% of our purchase price to land value and 75% to the buildings.  Therefore only 75% of our purchase price would be depreciable.  Certainly there are markets where land values make up a considerable portion of a purchase price but this is not one of them.  We bought the buildings below replacement cost so from a purely economic perspective we got the land for less than nothing.  Here's my question: how are investors allocating purchase prices in markets where land values are low and assets can be purchased below replacement cost?

I'm looking for a realtor in Jackson that understands rental investments and rehabbing? Any recommendations? Thanks

I'm looking for an agent in the Orlando area that has solid investment experience in single family homes.  Any recommendations?

I'm purchasing a junior non-performing mortgage behind a performing first mortgage secured by a home in Massachusetts.  There is an IRS lien that was recorded after the second mortgage was recorded.  Is it senior to the second mortgage?  Can I foreclose on the home without redeeming the IRS lien?  thanks!

Arthur, do you have any more properties for sale in New Mexico?

What I'm driving at here is: are any note investors aware of a state where, you can not only add foreclosure related costs to the principal amount due by the borrower, but you can also collect interest on these costs.

All you note investors out there, is any one aware of a state that allows attorneys fees or foreclosure costs to be not only added to the outstanding principal the borrower owes but also to accrue interest in their own right? If so what states and is this interest rate determined by the note, by statute or by something else?

Tyler, thanks.  Good stuff.  I signed an engagement letter this morning with a local attorney specializing in creditor matters.  But there's nothing like getting some business smarts from people that have been there.  Thanks for the help.