All Forum Posts by: Jason Cox

we may be able to help. Feel free to reach out 

we could help. Reach out to me at your convenience. 

Reach out to me. We buy anywhere in NC

happy to look at the deal 

J

we buy in these markets all the time. Pure cash and quick close. 

feel free to contact me. We provide capital in these markets. 

we buy in NC. All cash, quick close. 

if you don't at least have a standardized process already, including agreements on file to use I would be very careful...it sounds like maybe this is your first deal? Feel free to reach out to me off BP if you would like a little help or some sort of limited representation. 

So ultimately, what people need to understand about Hubzu is that it's really closer to an auction than a traditional real estate sale. 

Also realize that it's not unusual for altisource to choose to let properties sit for a long loooonnng time not accepting the real value of a property. 

Assuming you have inspected the property to the degree you know what you are buying within reason, you understand the sale terms and fees, and so on then they are fine. Just accept up front that you close at their terms and realize they almost always require an extension to close. 

Your overall thought process is right Brian. 

Without being the highest money provider you are unlikely to secure a 1st lien. If you are certain on the value a 2nd lien is still a strong position. 2nds get wiped when no equity. 

Unsecured is unlikely to be a good call. If you did that you would want personal on all participants and it's still a bad choice IMHO. 

Best balance if you really want to participate is to have a JV agreement created and let the JV entity as a whole take ownership. Then the entity holds title and the operating agreement for the entity would outline ownership percentages and could also outline any distribution rules. Proportional would make most sense and be easiest to manage. Just make sure all parties understand the distribution rules, that all understand differences between member vs manager managed (if an LLC) and that the floors for any sale and any triggers for reductions are clearly spelled out in case the property value doesn't meet what everyone hopes.

I am NOT an attorney (guess I need to add that disclaimer in future?) - just a lot of experience in a lot of different scenarios. 

Happy to help, my info is below if you want to email me outside forum for more specifics