All Forum Posts by: Jeff Silver

@Mike M. The lender told the seller that they see my LLC on title and then offered to refinance to a lower rate with the seller. It's a VA loan. I'm wondering if I should try to go forward with it and see if it's possible or if it would certainly get held up in underwriting.

They are already fully aware of what has taken place but wouldn’t want to do anything further to cause them to call the loan due.

Thanks for all the feedback



@Nicholas Covington good to know. So the seller can refi the existing financing on a subject to if the the buyer has taken title using an LLC?

Just clarifying. Much appreciated

@Mike M. That's exactly what I thought but the lender saw my LLC on title and still offered to refi. Seemed off to me but wanted to put it to the community

Thanks

@Chris Mason what if the seller can refinance and is willing. Can they just do the refi?

I’m the only one on title since we did subject to right? Thanks

I got a property a little less than a year ago using subject to. It's a VA loan. The seller told me they can refinance it to a lower rate.



Can they just re-finance in the situation given that my LLC is on title?

Any tips or suggestions please!

Thanks 

@Dan Sarao

Thanks. The land is rented and according to the seller it needs to be owner occupied

I'm trying to figure out the best way to go about dealing with mobile home leads in my wholesale business. I spoke with a woman today that owns her mobile home free and clear but leases the land. Very motivated to sell and wants to move ASAP. Needs to move asap. 

Any advice or solutions to wholesale or creative financing? 

Thank you for any help or advice! 

@Greg Dickerson thank you

Hi BP folks.

2 Questions around determining value for an additional structure on a piece of property with the home.

All of the comps I have are good comps but the seller is valuing his giant garage at 80k. He got that number from what his insurer told him to insure it for 80k.

1. What is a good way think about what an insurance company says how much to insure for?

2. How should I communicate with the seller about this and determining value.

Also the garage is on it own power.

Any advice would be greatly appreciated.

Thanks 



@Ryan Ingram

I’ll get the new policy in place then have the seller cancel their policy once my policy is active. Should I list the sellers on the policy? Thank you Ryan!