All Forum Posts by: Mary lou L.

@Jaago Viitkin  how did the remodel turn out?

@Justin Nothem Just curious to see if you went with this deal!

Esp with all the new commercial area North! And it seems to still be expanding! I spoke with a realtor about some properties on Syracuse. She said there were offers but it seems he is waiting for the one that will take them all. There are two that are his . And one next to it for 75 (different realtor) and is completely gutted. It looks like the rehab was started but stopped.  There is also an empty corner lot next to it for sale. 

There are a couple of houses on the mls that seem like good prospects! The area south of main and west of lander but not too far south. There was a rehab on 215 Columbia that turned out beautiful! If you do a search for it there is a before after video on youtube. (Some ads though with video) It looks like it was purchased for 110 8/14 then rehabbed. Listed for 189 1/15 sold for 166 3/15. So there are rehabbers out there in the area!

Hi Tim! Isn't  this site great? I am also local and interested in the Turlock market as well! At this point Im researching and doing  drive bys. Trying to get as much info and data as i can.

Good to see  you on here! 

I am so thankful for your advice! But This is getting complicated.

My dad is the only one on the deed. Can the contract have a provision on how the monies will be distributed? Example. Purchase price is 75000. I put down 10000. My sisters should get a share of that and any payments afterwards.

I told my dad that since they are not on the deed and there is nothing (asset) changing  hands legally between my sisters and I. It really will be up to  my dad to disburse the payments, unless I do and give him receipts. Will this be considered a gift on my part then? Or a gift on his part?

I think I would make the contract with my dad (he wants my sisters to agree on the terms as well, but truly it is ultimately up to him) Pay him the down, and make payments directly to him. I would add provision that the entire balance less payments will be paid in 6 months.

Hmm and LandlordsOnly.com seems to be available!!!

The theme song could be "we found love over the rehab place!!" or Great pick up lines are " Hey baby what's your cap rate?" "Wanna go back to my place and address yellow letters by candlelight?. no seriously by candle light, I haven't had the contractor come over and install the fusebox yet..."

Or the ad!

Do you love the smell of fresh Home Depot in the morning? Cruising through class C neighborhoods? Look great in a tool belt? Enjoy long walks to the mailbox to collect rent checks? Then give me a call at 1800-GO-RENTS! Or visit ItsallabouttheROI.com!!!

I understand this as well. My bf wants a finished house! I want broken ugly smelly..lol. 

Hmm are there plans for a LandlordsOnly.com dating forum?

Hopefully I will explain this clearly.

My mother passed away in 2013. She was married to my dad. She had a home in her name (she was the only one on the title)

There was no probate because there was no will.

House was appraised for a certain amount. Heirs were to receive portion of proceeds if sold.

Heirs quit claimed their share to father. (There were other properties as well they held in joint tenancy, this particular property was not changed to joint after they remarried)

He is only one on deed.

If house was appraised at certain amount at time of her death, does that mean the house has to be sold at that amount?

Trying to come up with a price to purchase this property from my father.

Do I need to come up with a new appraisal? And do I need to involve the title company/lawyer  at this point?

I'm going to present it as an owner finance, but I want to make sure I have the proper paperwork, and price.  If I were to refinance can I do this with the owner finance paperwork? Can you explain how I do this?

Do we just take the contract to the county to be recorded? And do I need to go through a title company to change the deed?

Im really trying not to stress about all this..since this will really be my first owner finance purchase.

Thank you so much for your advice!