All Forum Posts by: Kevin Ramsey

I am in the process of a cash out refi on an investment property. I live in Texas, but I do not have a homestead due to the fact that I live on my family's estate. We tried two different title companies, but both have informed me we can not do a cash out refi without having a homestead filed in the state. Curious if anyone has found a way around this??

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 I would love to hear more. We are probably 3-6 Months out on our next purchase, and have started researching BB again. What type of price per Sq Ft are you getting on the new builds?

Anyone else having issues finding someone willing to loan on a BRRRR since the limits were imposed. I have had little luck finding leaders for our current cash out. I have found a few credit unions, but obviously the rates are a bit higher.

@Steve Morris

This deal was brought to me by my realtor as an off market deal. We worked out a deal (67k) through the agent. Signed a contract and I proceeded to get inspections and rehab quotes ect..

I believe the seller has this owner financed and that note holder found out he was wanting to sell and offered to pay him 5k cash to sign it back over.

Could I offer to match the 5k? Of course but I’m not comfortable paying that much more. Does that make me cheap?

@Darius Ogloza

He was about to get foreclosed on so he was willing to get out for what he owed on the property. Note owner offered him 5k to sign it back over.

Wouldn’t *

@Trent Ellingford

This deal wasn’t a home run it was just a base hit. So no it most likely would be worth legal action. Thanks for the advice :-)

Hello,

I was set up to close on a property this week so I thought. I had inspections completed, signed contract, had paid the Ernest money ect..

Now the title company has found an unpaid bank loan against the property. Title company and agent attempted to contact seller with no luck.

This morning the seller finally makes contact and wants out of contract because the note holder has offered him 5k cash to sign home back over to him. He has offered to pay me $500 for my inspection ect...

Should I just take some cash and walk away or fight it? This is a first for me.

Thanks!

@Jonathan Paul Shortt

I’m currently looking at a 1bd 1 Ba sleeps 2, but when I received the rental income I noticed they went from $150 a night in early 19 gradually down to $115 a night now. I’m curious what caused the decline in price. I do not believe this was listed on Vrbo or Airbnb, and was just self managed which could be the issue.