All Forum Posts by: Angelo Russo

Welcome. If you have any questions, everyone is very helpful.

Speaking as an attorney, and the owner of a title company in Ohio, here is what you do.

All complaints are public record, so go to the county clerk of courts and tell them you are looking for case number XXXXXX. The case number should be listed with the property address on the sheriff's list of what is being sold. Just walk in, you can view it there, but not take the file out. If you want to copy something, probably $1-$2 per page. The problem is, you will not get any liens filed after the PJR (preliminary judicial report) an FJR (final) has to be obtained before the sale. Again, the title company and search only protect the firm who is foreclosing and not the buyer.

What you need to do is, see what title company issued the report. Tell them you are thinking of bidding on the property and if they will provide you an Owner's Policy on the property should you buy it (every state's cost is different) This will protect you. Let them know they already did the PJR and the search cost and out of pocket for them should be less and save you money in case you do not buy it.

The other thing that is missing is any federal tax liens do not get removed this way. So if you buy it, you could be buying someone else's headache. if you get the title insurance, that is covered (usually).

I wish you luck, but pay close attention. I've seen people bid on houses and get stuck big time. Be even more careful on commercial properties, EPA and especially gas stations have a lot of baggage that come along with them.

email me if you have more questions.

I agree, you need to find out why. Talk to the people when they are walking through the place as well.

Also, 30 days empty is not really that long.

changing a single term makes this a counter offer, UNLESS they accepted the deal, but asked if you would be willing to do the change they requested.

I would tell the attorney, you are not accepting his counter offer and walk away. If you think it is a good deal, then negotiate with him/her directly.

Good luck

So you are looking for a thinner bullet proof vest. That just means it is easier to poke holes in. Now, my preference as a lawyer is to get the one that stops almost anything, but it is a pain to deal with AND most people won't use it.

Very curious what other people think though. Willing to give up protection for simplicity?

Curious lawyer here :)

Put them both on the lease. if they break up, it's not your issue and you can collect against whichever one you want. You are not limited to who stays in the house. Put as many people on the hook to you as you can.

As for the 3x rent, use your own judgment. I would rent to them, and have in the past. I had a 72 suiter and a rented place is always better then an empty one.

if you sold them all, you would be stuck with the money int he market. Let the money sit where you developed it and where you know the business.

That being said, when you know you are going to pass it along to children, sell it. They do not want it, or know what to do with it and it'll be sold at fire auction. Isn't that how you got your deals? So be wise, make your money and just pay attention to what's going on.

VA, if you qualify, still has no money down :). As for your questions, there will be no issue (at least as of today) to buy FHA on a duplex you are living in as your primary residence.

But as Dave said, we need to know the rent, utilities, taxes, insurance and other information to see if this is a "good deal" for you.

Honestly, this is the best way to become a landlord, especially if you buy right. You have tight control on the tenants and can do maintenance very easily. I wish you luck.

if you are chasing her now, you always will be. But that is the life of a landlord. You want the rent, ask for the info and get her in there. One month in earlier of a decent tenant is worth it.

reportrent.com client of mine. I think he only does it for one bureau, not all three. But you need to do it in volume or the credit agencies ignore you. Third parties, like my client, group everyone together. no idea on cost or which agency, but check it out.