All Forum Posts by: Inderpal Chadha

Thanks everyone, this gives me the confidence to go on my own.

Hello

I am on my first flip, purchased a sfh at a foreclosure auction. I am in the process of hiring a contractor to get it fixed. The question I have is regarding selling without hiring an agent. Has any one used mysecretagent.com ? Or is there any other recommendation for sale by owner.

Thanks

Inder

Thanks for the reply. As per the mortgage company, there were couple of corrections with the HUD and the lender in the east cost was short staffed, the funding order was released but was too late to wire. As per your comments it looks like that the deal is at risk and I can do nothing about it but hope for the best.

Hello

I am purchasing a short sale property and it is ALMOST closed.
Here are the chain of events of last two days. Need advise.
Thursday afternoon: Docs released to escrow
Thursday after hours: I sign the docs. The seller has also signed (not sure when)
Friday morning: I wired the money to escrow and escrow confirmed the receipt of money by noon.
Friday evening: Escrow informed that they could not record as they had not received the funds from the lender (time issue).

The extension we had from the bank expired on Friday evening.

The closing agent says she will not record the sale unless she has the money from the lender and the extension.

As per the agents and the mortgage company (arranging the loan), it should not be a problem to get another extension from the Bank on Monday morning. They are all saying that since we are in escrow and all ducks are in row, the lending bank which is Green Tree will not have any issue as the bank would rather prefer to have its money than relist the property.

Questions
1.Is the property purchase closed technically just not recorded ?
2. Will the HUD change now, as we can have couple of days before we get the extension ?
3.Can the bank refuse another extension?
4.What variables I should be ready to handle?
5.Is the closing agent right in refusing to record unless she has the extension?

Thanks
Appreciate your input.

Thanks for initiating this topic, the plans outlined are helpful. I have a similar goal. Diversifying within real estate is a great suggestion. Thanks Inder

Thanks for the response

Inder

Hi What I understood from reading the blog on self directed IRA is that: 1. Money deposited in self directed Ira can be used for buying investment property. 2. All expenses related to the property should be from the IRA account. 3. Money deposited in Ira is tax deductible and limit is $100K per year. Is that correct understanding? And does the income from the property like rent and capital gain also has to flow into the Ira account ? Thanks for your comments Inder

Thanks a lot, keeping the goals in sight helped clear up the conundrum.

Appreciate the input.

Thanks Brandon, I have been through the tenant screen guide twice and it is very informative and helpful.

Thanks

Hello

Has anyone used rentapp for rental application or the best way to go is traditional paper forms.

Thanks

Inder