All Forum Posts by: Kelly Beck

This company calls it “capital stacking” but I have since found out that they’re calling it the wrong thing…credit or card stacking is what it is. So…my question would now be about the 9.9% fee for credit stacking…but I wouldn’t see why we couldn’t just do it on our own. It’s basically applying for several business credit cards with 0% interest until we have the amount we need.

I know this is an old post, but Kenneth and Audrey....I'd love to know how you solved this problem. We're looking to get started using land contracts vs. owner financing properties and I'd like to know what steps we'd need to go through for the eviction...or or a judge would determine the land contract to be an "installment sales". If so, I'm assuming we'd have to then go through the foreclosure process, which is what we want to avoid. Thanks.

We are looking at possibly using capital stacking to fund holding costs and a light rehab for a sub to property we own. We were referred to a company who does capital stacking. Their fee is 9.9% of the total amount we use (for this property we only need $30K so the fee would be about $3K, with typically 0% 12 month term, payments at 1%).

Is this typical? I'm having a hard time finding typical fees for this type of funding. Thanks for any insight...we have used a PML in the past but his return request has become something we just won't pay, so this is our first time looking for an alternative.

So, she just told me it was Chapter 13. How would that change things and the process we should go through? Her debt is $75K, she does not have a mortgage and has been making $500 payments each month. ARV for the property is about $250K. Should we start by getting an inspection to determine the repair costs needed, so we know what our offer is? Thanks again.

Again, thanks so much, Mike. I'll ask her what she filed. Sounds like it's a mess if it's 13. 

My phone must have cut off the bottom of your post...So you've had success with this? There is a lot of equity in it, possibly over $100K. If we would decide to pursue it, what should we do as investors to take precautions to protect ourselves? What can we do to make sure the seller would avoid fraud? Just be sure she's being open and honest with the attorney? 

Mike, thank you so much for your detailed response. I would never in any way want to be responsible for some one possibly being charged with fraud, so we'll avoid this one.

Does anyone have experience purchasing a property where the mortgage is paid off and the seller is going through bankruptcy, needing to sell the house to pay off the debt? This is in North Carolina.

The seller wants to sell now before the trustee sells so she can get something out of it herself. The debt is less than what we'd be paying for it. I talked with the bankruptcy attorney and the debt owed is $75K. Right now WA is $140K but we're hoping to get it down after the inspection. ARV is $287K.

I know our offer has to be approved by the court, but does the trustee still try to get as much as possible out of the house, even though the WA is almost 2x what the debt is? And if so, does the seller get that money above and beyond the debt? Or does someone else? 

Is it typical for this to be approved since we're offering more than what the debt owed is? We have no idea what might be involved in getting the sale approved so we're looking for anyone with any experience with this.

Thanks so much.

Gotcha, thanks for the explanation.

Thanks so much. I just don't want to get locked into something and then not be able to sell elsewhere.