All Forum Posts by: Kristian L.

 Is there a way I can prevent the borrower from creating any subordinate liens? I have this in my promissory note, but they can still do it. 

1. Prohibition on Additional Liens
   Borrower agrees that, during the term of this promissory note and until the full satisfaction of all obligations herein, Borrower shall not create, incur, or permit to exist any other liens, encumbrances, or security interests on the property serving as security for this loan, without the prior written consent of Lender. Any attempt to create, incur, or permit the existence of any such liens without such consent shall be deemed a default under this promissory note, and Lender may, at its option, declare all amounts owing hereunder immediately due and payable. Failure to fulfill this obligation will result in the note being deemed in default.
   
   

Hi. Can anyone recommend a foreclosure attorney? 

- Some of the questions I have: 
As a PML, what is the difference if I get collateral in an investment property or a primary residence. 
I hear that it can be harder to foreclose in a primary. 

- If I have a second lien, how to handle possible subordinate liens?

- If I have a second lien, how to handle first position?

- If I lend 50K normally a Deed of Trust is recorded in the amount of 50K. Can I get 500K recorded, even if the note is 50K? To discourage anyone getting subordinate liens.

 Thanks. I will give them a call 

Hi all. I am looking for a solid property manager to manage a rental in Chickasaw. Any recommendations? 

@Denise Kari Hi. Did you find a good property manager. I just about to close on a house house in Chickasaw and need management. Thanks

Hi. 
I just sold a 2br condo on 89115 and am looking for something else, maybe in a better ares, to do a 1031. But I can't seem to find any properties that is worth the price. 
I see 2-3 br in better areas but they are 200K - 250K for 1000 sqft - 1200 sqft. For that to work, I need $1.4 - $1.5 per sqft in rent.
e.g. https://www.redfin.com/NV/Las-... would need rent for 1700 or https://www.redfin.com/NV/Las-... for 1900 - not sure that is possible.

So I am thinking I will take my profit and pay off another condo. I will have to pay some taxes, but we are talking around 10K in taxes. 

Anyone finding any properties worth buying for rental? I am aiming for 12% - 15% cash on cash. That is what I have on the condo I am selling. 

@Brian Walters i have 4 condos close the air force base. Not a good area but the cash flow is ok. But they are to expensive now. Paid between 94 and 112 for them. Now they are 140-155

I have a few units here in Las Vegas and will properly sell one and buy something else.. but IMO there is not much good to buy. Everything is so expensive. Looked at some condos here and there, but the cash flow is just not there.