All Forum Posts by: Lutfiyya Portier

Ok why wouldn’t that be 

@Account Closed That was my thought process also even when power of attorney paperwork was notarized and everything but when I was looking into the sisters name I barely found anything only a few phone that’s not her and address that doesn’t pin point her location 

I went searching for her and I barely got anything I found the sister that signed her rights over but she didn’t know her whereabouts a phone number or anything and it seemed like they don’t stay in touch cause this lady didn’t have anything for me and she knew who I was and remembered the transaction but no info on her sister. The only way for me not to get the court involved is to find her get her to sign from what I hear a warranty deed notorize it and updated the title system. If not that then all I see how a quiet title being done and I don’t know that process goes yet. 

a attorney did tell me to find the lady and do a QC when I was trying to refinance my home but with her name one the title I can’t do anything. They said they wouldn’t help me find her but when I do they would be happy to draw up the paperwork 🙄. And as far as the title insurance that’s non existent my father isn’t the paperwork kind of guy more the hand shaking keeping word signed contract and go about his day. I have heard about a QT but I heard it could get expensive so I’ll look into that since it might be my only option thank you for your response 

Hey BP fam I’ve been at a crossroads for a few years now and I would LOVE advice or any information if my situation has happened to you

I I brought my first house when I was 25 from my father. I paid him and we did a quick claim deed. Over the next few years me and my ex were living and fixing it up. Needless to say the relationship didn’t work so I had decided to sell the property but came to find out when someone wanted to buy it there was another persons name on the title that dated back to  when my father purchased it. Apparently there were two sisters that sold it to him and only one signed but she had a letter stating she was power of attorney for the other sister but apparently that doesn’t hold up (I don’t know why) and Yes I didn’t do a title search when I brought the property from my father 🤦🏽‍♀️. so for the pass 15 to 20 years ( I think) this womans name has been on the tittle At this point idk what to do I have looked for her called siblings turn in paperwork stating her sibling was power of attorney and nothing has budge I own my house free and clear and it could help jump start my real estate career.. please if you have advice I would appreciate it 

P.S ALL ADVICE RECEIVED TO ME WILL NOT BE LEGAL ADVICE BUT MERELY SUGGESTIONS OF THAT PERSONS EXPERIENCE. I WILL SPEAK WITH MY OWN LEGAL.

Quote from @Account Closed:

Quote from @Lutfiyya Portier:

Hello everyone first time poster, still navigating the site. I hear people talk about having a business plan that they take to the banks or lenders to show what they plan to do with a property.i was wondering who is that person that writes up the business plan is it yourself, a developer, architect, a numbers guy or is it all of their information put in a booklet to give to the bankers for the loan. People always talk about the numbers and ARV but I haven't heard how it's actually put together to present it to a bank. If I'm questioning this wrong forgive my rookie mindset and thanks so much in advance.

@Lutfiyya Portier: Real estate falls into a lot of different catagories. If youplan to build a house from the ground, I can see that maybe a lender will want that kind of plan.

But most lenders want to know why you are borrowing the money, how much and how you plan to pay them back. That is what it all boils down to.
If a lender asks what your plan is and you say there is a new slot machine in Vegas you want to try out, that probably isn't going to fly.

If you say you found a 4 bed 2 bath built in 2015 that you can buy for $350,000 and after fix up of $40,000 will sell for $500,000 that gets the conversation started. They'll want more detail, but at least you've given something to get them interested.

lol oh yeah slot machines would be a no no. But I have to ask with that 4bed 2bath plan the bank wouldn’t give you the loan if had a house in mind you have to have it at least under contract right? And if you did are there banks that would give the loan without a down payment to start the plan

sorry for the late response.

Hello everyone first time poster, still navigating the site. I hear people talk about having a business plan that they take to the banks or lenders to show what they plan to do with a property.i was wondering who is that person that writes up the business plan is it yourself, a developer, architect, a numbers guy or is it all of their information put in a booklet to give to the bankers for the loan. People always talk about the numbers and ARV but I haven't heard how it's actually put together to present it to a bank. If I'm questioning this wrong forgive my rookie mindset and thanks so much in advance.