All Forum Posts by: Fred Sams

Welcome to Bigger pockets, and I thank you and your wife for your service.. I am a local investor friendly RE Broker... it would be my pleasure to help you find a deal(s).

@DesmondStoll Appreciate you reaching out. 

I will PM message you so I can better understand.

@RickHarmon appreciate the feedback, 

I met you at the SDREIA several months back and purchased a copy of Inside a Probate Sale (who knew). Your solution at 50 % LTV would yield ~ $217K - $225K? Then I would take a 2nd mortgage out with your Fiduciary Mortgage in 1st?

BP

Wife and I are trying to purchase the home of her recently deceased parents. The home is in a family trust, and has a comp value range of $438,000 - $450,000.

At this point the siblings want to cash out of the property for $350,000 if it can happen fast, as opposed to waiting to sell on the open market. This is ideal for us as well as the property can stay in the trust and avoid reassessment.

I am also getting pre-qualified for VA no down. Our credit score tri-merge is 702. Conventional financing will take to long and the price will go up.

Property is free / clear, and is move in ready with no major cap-ex looming surprises. The property shows as a 4 1 ½

I have confirmed the additional rooms and bathroom were in fact permitted. This deal is a strike while the iron is hot.

The exit strategy is to hold the property, as my wife and I are finalizing our vendor license to provide a Residential Care Facility. So this 5 bd 2 ½ bath SFR would be perfect for our 1st facility initially moving in.

I have the collateral documents to support interest.

Need to fund quickly, anyone with the ability to fund, and fund quickly is welcome to contact me.

Thank You! 

Appreciate the response.  

Do I need an attorney? If so any local BP referral? What might this cost?

My wife and 9 other siblings are settling there parents estate. 

The home which is free / clear is in a Family Trust. The current situation 

is we have motivated siblings, and as of last check all were in agreement to be bought out, "with time being of the essence".  

As a RE Broker the comps I have run show the buyout price makes this is a sweet deal. Currently in the process of identifying Private money, however experience has shown me death can bring out the best and worst in us all. Appreciate any and responses.

Sincerely

Corey,

Just got a chance to read the article .. Good read thanks

Hi @Lauryn Drew  

I just found this thread and was curious if you had found a lending strategy for your Marketing / Promotions ?  

I am actually looking myself and in the process of putting a creative funding request package together $10k - $30K. Any input or advise would be appreciated.

At the end of the day, its all about the relationship. 

Glad to hear the light at the end the tunnel was not a speeding train.

Take Care!

@Adrian Chu

Hi Adrian I am a San Diego based investor/broker connecting makes perfect sense.

I have a team involved in Urban In-fill. We are in various stages of promoting

value add opportunities. Would love to be a part of this as I think it will flourish.

I have fond memories of the Greater Seattle area.