All Forum Posts by: Jeremy Pace

If the sister is a beneficiary and now the executrix, it could potentially make the process easier but I'd need more info to be of any additional help.

 That's at least one less wrinkle

Just at a high level, you're out of pocket $25k for about $100/month in cashflow (~1300 pmt and 300 taxes and 100 insurance per month). That's about 5% cash on cash, and there's no accounting for CapEx, deferred or otherwise. I'm not saying it's not the deal for you, but I would say it sounds very lean.
Also, the fact that there's not more detail about the current title/deed is a little unnerving.  It sounds like he has a contract for deed with the current owner, so he would at best be accepting 2nd position for his own note.

Can you add any additional clarifications?

I think its really great that you're trying go make improvements to a space.

I'd like to point out that as a function of rent, removing a bedroom is a pretty bad idea.  You'd essentially be renovating your way to lower cash flow.

most stackable washer/dryers have a 30 inch square footprint (6.25 sqft), meaning they can be placed virtually anywhere.  Converting a sleeping space into a laundry room big enough for an apartment building is likely not going to have the effect you desire.

I'd recommend calling Christian Baker Co, they are an agency based in central PA.  717-761-4712.  If you send them your SF quote, im sure they can get you a couple others.

@Thaddeus Parker

There is a well-defined set of rules that dictate whether or not you need a permit for your signs. I'd just like to point out that the term bandit sign originated because people didn't get permits for signs that required them, hence the title.

@Clayton Hepler

I'd avoid brentwood side, but some of 227 is in Pittsburgh, and the price is right, in the ring.

@Davido Davido in Allegheny County, Pennsylvania, if a property is Deeded to XYZ trust, and Mary Smith signs a QCD with no supporting documents (explicitly showing that she has the ability to convey, since her name isn't on the deed), you won't even get the Deed Cert, full stop.

Having her sign a QCD today would eliminate the need to go back to her later once the rest of the process is resolved, but in the meantime I'm not really sure what actual, legal right to the property would be conveyed.

If we're all going to assume that she is fully informed and telling the truth about the trust and her role as beneficiary: wouldn't it make more sense to purchase her beneficial interest from her, assuming that it is revealed that the declaration of the trust in question would allow this?

@Davido Davido I don't think having some random person with no connection to the deed (as for as the recorder's office knows) sign a QCD really gets you anything, I don't think anyone in the recorders office would certify the deed, let alone record it.  So how would that provide the buyer with equitable title?

Also, just knowing who the Trustee is doesn't necessarily solve the problem for @Anthony Vargas either, unless the trustee has the ability to add AND remove beneficiaries, or the trustee knows who the beneficiary is.  Here is PA, there are certain cases where a copy of the trust agreement (including the declaration of the beneficiary) has to be sent to the state  (because they need proof that the transfer-stamp avoidance is within state guidelines), so this may also be a way to figure out what's going on with the trust.

@Yifat Gat assuming the goal is not to hide marital assets, putting a property into a trust or LLC won't really reduce your involvement unless you're also hiring management, which you could do without an LLC or trust.