All Forum Posts by: Dani Beit-Or

@Bruce Woodruff if things were so black and white. Ty for the response 

@Matt Devincenzo I did ask that 3 titles - no was willing to do it

@Scott M. looking into fighting it - it is a bit more complicated than a straight yes/no answer as you can imagine. He doesn't want to wait as fight it may/will take time

@Scott M. Thank you for the reply.

That is what I am fully aware And I’m trying to find out if there’s a way to still do the refi while not paying off the lien. 

Paying it off is not an option.

I’m trying to See if there’s a mechanism that will still enable the refinance Wilders Lien in existence.

Two lenders told me it can be done as long as title is willing to ensure it, And give them first lane position. so far three title companies were not able to suggest a solution.

I was hoping someone here he’s aware of a method to my scenario  can be accomplished.I was hoping someone here he’s aware of a method to my Señora can be accomplished

One of my clients owns a house in Indianapolis. A GC put a lien on the house and while the client is addressing the lien issue with the GC he wants to refinance and pull money out.

 Assuming paying off the lien is not an option. And there’s no existing loan on the house.

This is a SFH and the client owned it for a few years.

Is there a way to refi w a reasonable rate, ie not hard money, and a long term conventional mortgage. 

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I'd say more info is needed or you need to ask yourself some good starting questions.

The easiest way to go is to ask for an area to invest.

But from my experience, it is better to ask myself few questions that will help me zoom on the right investment for ME (YOU). 

Such as:

1.How much funds do I have?

2.What’s the source of the funds?

3.Do I have a rainy-day fund?

4.How free/busy am I?

5.Do I want to be actively or passively involved?

6.Can I get a mortgage?

7. What’s my WHY – am I trying to accomplish?

8.What are my concerns:

-Vacancy, mortgage, will it go up or down, will it rent, can I trust the property manager.

9.Can I analyze a deal?

10.Do I understand the risks involved?

11.Do I have an exit strategy/ies?

12.Am I a doer – will I be able to pull the trigger when the time is right?

13.Have I set my investment criteria – my buy-box

I'll keep it simple . . . I like (for almost 20 yr) good, quality SFHs in various US metro's suburbs.

This in my opinion is a long game and requires patience BUT a relatively simple one to evaluate, handle, manage, liquidates, finance, etc. 

I like boring ones for example a SFH in the suburbs of Nashville or Kansas City, 3/2.5/1750/ 2000 built, good schools rented to a family w/ 2 kids and a dog . . . .truly the American Dream.

I'm staying away from older, smaller in sketchy parts of town that on paper are cash cows but in reality . . . not.

To me boring real estate means you can live in LA, own one or more in KC, use a good property manager (not all are bad/jerks/crocks) rent out, still experience typical and minimal rental/house issues (yes, you will have them I promise) but at least encounter them less frequent.

Couple of things to know about this type of investing:

• relatively low risk
• relatively for real estate a more liquid asset
• once you buy and see how it works and build some confidence - easy to duplicate
• doesn't require extensive experience
• if done correctly can be done in the background of your life, ie you don't need to be actively present on a daily/weekly basis. 

Please know this:

~22 yr old that is starting in RE - WOW, amazing. Real estate LOVES time and at 22  . . . . OMG!

Tell your friends that the best thing that can happen to them is that after 6 mo - a year of seeing how it works it alters the way one thinks about $$$ and re-align one's financial mindset and priorities. All from investing. 

good luck!

Keep it simple (easier said than done)

Meaning:

a 20k to 40k rehab is 10 times simpler than a 100k rehab (although the budget is only 2.5 times)

A 100k rehab will likely yield a much higher return but the complexity will by many folds. It will likely need many more involved parties, and each person creates more management challenges and more friction.   

Also, watch progress and payment like a hawk. If needed use micro-payments.