All Forum Posts by: Dustin Gott

We require the "homeowners" get their own full insurance. We have in our contract stipulating that within 7 days proof of insurance be given.

Good options. Thanks for the reply. Would you ever keep their earnest money? This isnt how I want to make money but it is a huge waste of time. They should have had financing lined up already.

I have a property that was supposed to close on July 30th. The lender/underwriter keep coming up with last minute things they need and have delayed closing twice. They have had this in escrow for almost 6 weeks now. Today they came back and asked for our HUD from when I purchased it. I gave them it and now they are saying the cant fund it because we are selling for more than a 20% profit. Why are they telling us this after 6 weeks of having the file???? At what point do I keep the earnest money and give up? What would some of you do? Thanks

I am trying to buy a note and the owner of the property signed an appointment of receivership. Does anyone know what this is?

There are no junior liens. Rents have not dropped just management and recruitment of new renters is poorly managed and can definitely be improved. Any other ideas? I thought there might be other ways to work this deal that im not thinking of. Thanks for the replies guys!

The note i can get for 100K roughly. The original loan was for over 400K. My friend (in real life) cannot pay that amount. His rents have dropped dramatically and he doesnt desire to own this anymore. Could I buy the note and just have him deed the property to me? I would obviously benefit from this plus I wouldnt need to forclose on him thus saving him from this almost certainty from any other buyer. I could even give him some money to pay for it. Just looking for better ideas.

Their is a note for sale for a good price. The note is nonperforming secured by a 10 unit apartment building. The owner of the building turns out to be a colleague that I have a good relationship with. Im just looking for ideas on how I could use that relationship to profit from and even potentially help this owner. Any ideas?

There was a segment on CNBC this morning that will be continuing tomorrow I believe about this exact topic. I didnt listen real carefully but they were saying we have much better financial technology that would benefit the buyer and lender and greater acknowledge specific situations people would be in.

Is it possible to put a mortgage on a house (by contacting the homeowners) during the redemption period in order to be able to redeem the property if there is significant equity?

His course is called The Paper Game. He has videos associated with the books which is the real "meat" of his study. So if you do find it make sure it has the paper game videos.