All Forum Posts by: Hugo Alves

@Marvin S. Please send me NJ and PA. [email protected]

Anytime!

@Justin Pokrywka Numbers look good to me. I would go with a 25% down on an investment purchase. As far as the terms, that's dependent on you. What's your $450 based on, 30yrs?

@Alex Trejo Have you sat down with your agent / friend and given them the criteria that meets your needs? If you feel like you're the one who finds the deals, then they don't know what they're looking for. I had a similar issue, and I replaced the agent. After breaking down what i looked for, and what my criteria was, it just seemed to be more work than what he wanted, so I found it to be best to move on. The goal to having a team (agent included in there) is for them to do the leg work and you approve, supply money, and get paid. That's my thought process. Hope it helps

@Tim Moore I don't believe so. From a quick search online, I noticed that all deeds have that statement, or something similar with the Habendum, which is the part within the deed that actually transfers the deed to the new individual. 

@Tim Moore Easy way that I've been able to find this information is on the county tax assessor site. It will give you the information such as: date of sale, type of sale, who owns the property, and what book and page the transaction is recorded. Once you have that, you can check public records to check for the owner and read the documents posted on the site. Once you have that information, you can go a few routes. If it was a deed transfer to the heir, you can reach out to the attorney involved and ask if they would touch base with the individual to see if they are willing to sell. Other route is contacting the person directly through mail or seeing if you can locate a phone number for them. 

Just a few ideas

Jason, I was referring to seasoned in the sense that it has built business credit so you can obtain a loan using the entity vs your personal info. Sorry about that, should've explained.

Wholesaling would be your best start in order to build capital in order to buy your first property. You can also ask your family or friends for down payment help and purchase a home with 3.5% FHA loan. Then rent out the other apartments and/or rooms to help pay the mortgage.

@Jason Segrest The stories you've heard are accurate. All mortgage contracts, now a days, hold a "due on sale" clause. With that said, the amount of people who will tell you that's happened to them is minimal. It's a chance you would take unless you have a seasoned LLC that would qualify for a loan on it's own. I would never, under any circumstances call the bank and tell them what you plan to do.