All Forum Posts by: John Harris

Maybe, but I have the right, as seller, to negotiate the contract so that I'll pay for the policy if I get to choose the title company and that the buyer pays if they choose.

I have offered to pay for the policy, as buyer, so that I could choose the title company. Of course I try to negotiate a reduction in the sales price when I do that.

For the OP, if your complaint was against a real estate agent, then you may have better luck filing a complaint with your state's real estate commission.

Find other investors and talk to them about attorney's who are familiar with what you are doing.

Just to clarify; the TATCO agent didn't say that they were illegal but that they were "uninsurable".

This is probably the main reason.

If you are gambling on the property appreciating then you are just gambling. If you know your market and you are able to buy below market and re-sell the property, then that is something else.

Cash flow is your insurance and allows you to have someone else pay for your investment.

Agree. Just do them the favor of using them on your next deal.

I use a title company that I love and will not use another unless circumstances are extreme. A title company can be your best friend if you show some loyalty.

I sent an email to the manager of a Texas American Title branch that we do business with. I remember seeing some language about "flips" in some of the documents there. I can't find it in anything now that I'm looking for it.

I do remember talking with her about it because I'm a partner in a building company and we built a house on a lot that was owned by another LLC which we own. We paid cash for the construction, but we needed proceeds from the final sale to come to the building company who was not in title yet. The title company didn't have a problem with that particular closing but told me that "flips" were a problem.

I vote Ryan's as the best answer yet. :wink:

I'd keep doing what you did to get it in the first place. When you have that kind of money, people will come out of the woodwork with fantastic new deals or investments. Most of them suck.

Whatever you do, make sure that you understand the investment. Since you seem to understand Real Estate, I'd stick with that.

At any rate, good luck and congratulations on the success.

EDIT: Please let us know what you do with it. I'm curious now.

Thanks I'll check it out.

We hold over 100 notes but most are on raw land so the notes are small. Since we are in the building business, I'd like to start building for those customers. If the property is the buyer's home, the loan is much more secure.

Thanks but I'm looking for something a little more specific. We have a pretty big portfolio of loans. We used excel for a long time but now the bookkeeping is far beyond that.

I'm looking for something that I can use to print out payoffs for title companies, print invoices, and account balances for customers, send 1098 forms at year end, and handle payments that are either early, late or of irregular amounts.

I'm looking for a good software program to keep up with note payments. I have a pretty good program now which does the job. Just wondering if there is anyone else out there who has opinions on cash flow programs.

We are currently using Notesmith. It is very useful and it does the job, however I'd prefer something a little more user friendly.