All Forum Posts by: Jeff Wilson

oh yeah, I wouldn't be using my own money to buy the places but instead would be using money borrowed from my parents and uncles. If I used our own money (my wifes and mine) then I wouldn't mind paying her half the equity, so that's not the issue. I'm just worried about potentially loosing 1/2 my income in the future.

I have 3 rental units right now and I am thinking about buying more (many more) soon and make that my full time job. I am currently married but am concerned that that might not be the case forever. My worry is that if I buy a bunch of units now and then get divorced in a couple of years would I loose 1/2 my rentals and effectively lose my job? Is there a way to buy these properties so that they would not be split up in a divorce?

Any ideas are welcome.

Thank you so much for your reply! I really appreciate it!

Could I put a first on the property in my name? How about if I had an LLC buy the house and then put myself as the first?

Also, do you know of any good books or other resources that I could read to get more information about different ways to find sellers willing to do seller financing?

1. Can I buy a house with seller financing and have it so that the seller doesn't get any lien on the house? Would I be able to find sellers willing to do that?

2. Can I buy a house with seller financing and have it so that the seller only gets a junior lien on the house? Would I be able to find sellers willing to do that?

3. If the seller does end up with a junior lien on the house and there is a "substitution of collateral" clause in the contract can I transfer the junior lien to another property that already has multiple junior liens on it?

4. How do I add, remove, or transfer a lien onto a property? Do I need to contact a title company to do that? If so how much does it generally cost to do that? Basically, I'm wondering how to transfer a junior lien (that originated from the seller financing) on one property to another assuming I want to transfer it and that I have the right to do it.

Also, when I say seller financing I don't necessarily mean 100% seller financing. Depending how much equity the seller has and how much of a down payment they want it could end up that I pay 50% cash and the seller finances the other 50%.

Hi, I have a tenant who didn't pay the remainder of his bill (about $1,400) before moving out. I have his phone number, SSN, and an address that he said he was moving to. However he does not answer his phone or call me back. I also went to his new place and knocked on the door, but no one answered even though I know someone was in there. My question is should I use a collection agency, go to small claims court, or do nothing about it? Also if you have any other ideas let me know.

What does MH stand for?