All Forum Posts by: Gene Belaval

Hey Guys,

Looking for a little feedback regarding the quiet title process.

I want to place an offer on a property being sold with a cloud on the title. The property was purchased at auction by a real estate investment firm. They bought the property last year which had been foreclosed on by the association. The listing agent is indicating that the mortgage company has lost it's right to the property by not filing their own foreclosure process with in a 5 year statute of limitations here in Florida. Attached to the listing are 2 documents dated May 2015 showing that the court has dismissed the banks right due to the statute of limitations.

I am looking to buy an hold this property but I would still like to get a clear title if I need to sell it later on.

Anyone out there with any experience in this matter?

Can I get the title cleared?

Would it matter if I had the quiet title process completed or not?

Thanks!!

Great advice guys thanks...

Any other thoughts would be greatly appreciated.

Been reading up for the last 6 months or so and I want to get started!! Looking to rehab properties in Miami, Fl.

Just have to clear something up. What are the typical payment terms on a private loan. I have someone who is willing to invest, I just want to make sure I give him honest terms for his money.

10% to 12% is what we discussed. Projects could last 3 to 6 months if all goes well.

Do I pay him at the exit or monthly as well? If monthly how would it be calculated?

Should I have an attorney write up a note and lien on the property to protect him?

Should I offer him points for 100% loan?

Anything else that I may have missed?

Thanks!

Hi All,

I'm new to the BP world and would definitely be interested in joining this gathering.

Hi All,

New to forum, although to be honest, I've been poking around the forum for some time.. I finally broke down and completed the profile. Now here I am, writing.

Looking forward to continue learning and eventually investing.

I am currently a  lic Realtor in Miami, FL. Haven't really worked since becoming lic 6 years ago. I have a small business and mostly concentrate on that. I would like to actually use my lic and begin selling and investing. I've done both soon after getting lic, but had to move away from it after the economy changed in order to save my business. 

As I said, I have been poking around the forum for some time so I've read a lot and have a ton of questions that will end up on the forum sooner or later.

Looking forward to hearing from forum members in Miami and learning more about the investment market in South Fl. I know it's very fast and saturated but I'm sure there are opportunities out there for me.

Thanks, Gene.