All Forum Posts by: John Lindemann

@Cameron Terry I am currently in process of buying a house through a wholesaler, we are using Integrity Title and Closing.  Their rates were favorable.  If you'd like a specific contact send me a PM.

I would like to get into wholesaling, any advice you could give to me?

Thanks,
John

We just got our next personal home under contract, due to close Oct 2nd.  Just before the Oct 3rd changes take effect!

It's been a long time since I've shopped mortgages since  I've paid cash for my investments.  Can anybody give me advice of where they shop?  Any stellar companies to definitely look at?

We are in Broken Arrow, OK (a suburb of Tulsa).

Thanks!

@Bucky Cordray PM'ing you

about the issue of the pump not working during a thunderstorm...the problem is really that water becomes stagnant, not that there is water under there, correct?  It seems like it would be okay if the power went out and the pump didn't run for several hours (or days) as long as it did eventually kick on when the power came back.

Am I wrong?

@Cliff Harrison

I will gey more info on the trust in the coming weeks...

Mind me asking what you day job is? I'm a project manager engineer and also doing RE on the side. I didn't know if it would be possible to own that many and hold a full time job. Do you use a PM company?

@Cliff Harrison

Have you listened to BP Podcast 109? It had some golden nuggets in there that I'm trying to soft through. Two specifically are the series llc and the trust.

The trust I like because it isn't legally recorded and gives an extra measure of anonymity. If I created a trust then the trust owns the llc and the llc owns the house then someone trying to figure out who owns it would see the llc on the tax records then they could look upp the llc but then when they see the trust the trail ends. 

At least that's what I think I understand. I'm seeking attorney advice to clarify.  My wife is in the public eye a little and anonymity on our personal residence would be nice to have also. 

@Nate Garrett

Thanks for the advice.  The 3rd property I'm purchasing is going to have some foundation work done by Edens, I'll ask them for advice on this too.  I didn't even think of them for this...

Wow - 18 is a great business! Congrats!

Could you give me some more info about parent/child LLC's? I've not heard of that before. One of the BP podcasts I was listening to recently discussed "series LLC's". Is this like that?

Good luck on all your developpments!

I'd say the one that could get you into trouble quickly is discrimination.

One I'd like to know about is whether I can sell my property with a tenant in it or not.  If I sell to an owner-occupant will the current lease be cancelled or do I have to honor the lease by transferring to a new owner or maintaining ownership?

Hey Guys,

This is my first "HELP!" post...glad to have a great place to ask for help!

I own a SFH in Broken Arrow, OK and when I purchased it the inspector noted some standing water under the house but no damage had been caused by it so it seemed not to be a longstanding issue. The previous owner had recently replaced the roof and had the gutters removed at that time. I discussed with the inspector and he felt sure that gutters would remedy the problem.

So, I put gutters on and the problem is still there.  There are no leaking pipes.  The water is all ground water.  Drainage around the house is decent, basically flat.  The standing water is only in places where the ground has sunken some and puddles have formed.

I had a crawlspace repair company come out today and they quoted me $1,800 to put in a sump pump.  Alternatively he suggested adding dirt to level out the space and then installing vapor barrier for $800.

Anybody had experience with this before?  Aside from the $1k difference, I like the "passive" solution of dirt and vapor barrier but I want to make sure it will work.

If I'm really lucky, maybe somebody in the Tulsa area could suggest a contractor to do this for me?  Based on my inspectors notes I was thinking the sump would be closer to $1,200 and the dirt/vapor barrier closer to $600.