All Forum Posts by: Jim Kozlowski

I have an opportunity to purchase 2-3 SFRs but the owner has not located a suitable property to utilize 1031.  My goal is to take ownership of these 3, do updates and get them rented. I'd like to get some options/techniques from BP folks but also would like to hear about potential problems with such unorthodox arrangements.

First thought is to delay total payment while providing minimal monthly payments. Timing is important of course but I could include a 60 day notice to get property financed.

Thoughts?

I found a house (my 5th; this one off market) out of state and have agreed to terms with the owner. We've both contacted lawyers for contract, title search, etc., but I'd like to get something in writing quickly to 1) lock in the deal and 2) get the inspections done. I thought about using a contact from the web ... but is that safe? Is it feasible to just get something (brief) in writing until the lawyers do the final contract?  

By the way, after 6 years of investing, this is my first BP post. I've always wanted to post some pics of our projects but haven't taken the time.  Here's a short video of one problem from a home we rebuilt.  Custom waterfall - in basement!

Just bought a 1600 sq ft 3 bedroom ranch from NationStar/Xome/HomeSearch via online auction.  Their title company is providing a 'commitment for title insurance'.  Is this ultimately the same as 'title insurance' assuming the conditions mentioned within the commitment are satisfied?

By the way, I plan to post my new member introduction as it's long overdue.  This is actually the 4th project home with 2 of the others bought via online auction (Hubzu and Homesearch) and 1 being a live-in rehab.  It's been an adventure.