All Forum Posts by: Justin S.

Agreed. Good luck, James! 

Hi @James Beam

I assume that if you are engaging in cash deals that you are nonetheless having title exams performed. I  would utilize the title company to complete the closing as well as they are licensed escrow agents.  If you already have a title company that you are comfortable with, then great.  If not, ask a few investors which title company they prefer.  Just like anything, there are title companies that are diligent and efficient and there are title companies that are sloppy and slow.  I run my own titles and conduct my own closings in Ohio.  As a disclaimer, I am unfamiliar with KY law. 

Also, if you are doing cash deals, be sure to utilize a purchase contract that has been drafted by an attorney or at least reviewed by an attorney.  You want to ensure that the appropriate contingencies are listed. 

Good luck!

 Hi Dave. Have you considered "cash for keys?"  Assuming the legal fees, filing fees and continued holdover will cost you 2,000.00, why not offer 500 or some other negotiated amount for the tenants to vacate within 15 days, 30 days or whatever agreed upon date that you can negotiate. I recently utilized cash for keys and saved approximately 1,500 and, as a contingency, required a spotless cleaning prior to payment. It worked great for me. What do you think?

Congratulations @James McCain! Be diligent in appropriating money each month for maintenance and be sure to utilize a written lease with clear terms. I have learned so much here on BP Forums and podcasts. Read. Read. Read. All the best!

Good luck. Once you get to three years beyond final discharge, you should be good to go. If I were you, I would ensure that application now does not create a file that will be referred to once you are in a position to apply without a conviction. You don't want to be in a position where you have a clean background but the state has a file from a previous application indicating your conviction. I think I would want the answer to that question before proceeding. 

When did probation terminate?

I'm only asking because trafficking can be sealed in Ohio so long as it is not a 1 or 2. 

@Account Closed Was it more serious than F-3?

Hi Corey.  What type of Sheriff's sales? Judicial foreclosures? Treasurer sales?  Generally, if the sale is a tax sale for back taxes, there are a limited number of liens that can escape being extinguished through the sale process. (Federal Tax Liens). Again, generally, the more troubling issue to me is actual encroachment or property line issues. Of course, a title exam is always advisable but the process in Ohio naturally eliminates nearly all liens in the legal action assuming the title work preparing for the sale was thorough. As to your costs, I would much rather lose 150 bucks as opposed to holding clouded title to a valueless property.  I run my own titles but 150 bucks sounds like a very fair price. I charge 300. Good luck!

Agree with @Matthew Paul.  A rubber roof is the best option. The tar will likely end up costing you more in the long run. If it's on the market, any legitimate inspection will red flag the tar patch job. Good luck!