All Forum Posts by: Matthew Defore

I had a busted sewer pipe in there, which has been repaired and everything has dried up, and appears to be staying dry. I don't see where any rainwater is coming in, but I am going to crawl in there after the next rain to verify. 

Other than that, am I missing any sources of moisture to address? 

My pest control company sprayed this mold in my crawlspace last year with a mold killer last year, but I'm not happy with the results. Has anyone ever used a polymer spray product similar to "Lumber Kote" by the Redeemers Group? I'm considering upping my aggressiveness on remediating this issue with something that will cover up the color of the mold so it will indicate better remediation efforts to future potential buyers.  Does anyone have any experience in restoring this type of issue? Pic attached

That's good info. Can you refer me to any resources, or any search terms for me to chase on youtube university, so I can learn more about vetting operators in these spaces? 

BP and Rich Dad podcasts have been vocal about this niche. If you found the ideal property for this type of niche, what would be your first step in seeking out a business operator who would rent the property from you for any of the above purposes? (senior assisted living, special needs adults, or halfway house)

To clarify, I want to be only a landlord and lease to an operator who runs ____ business.

Does anyone here have experience in that?

Thanks Joseph, check your DMs.

Need HELOC lender who can work with the following variables:

-Expedited credit report update: I am selling two rental properties on July 22, 2024. These two mortgages are in my personal name, so I need a HELOC lender who can call the credit bureaus after these two mortgages are paid off at closing and get my credit report updated ASAP to free up my DTI

-I am changing W2 jobs. My last paycheck will be received on August 2, so I need to close on the HELOC before the next pay cycle.

-Prefer 45% DTI

-Everything else is good, strong credit, etc.

Please comment or DM me if you can assist.

Does anyone know which episode of the BP Real Estate Podcast Brandon Turner's guest discussed an insurance policy that you can get for due on sale demands when you are buying a property subject to the existing mortgage?

Thanks!

Thank you @Simone G., I will try to find Derek for guidance.  Is he on this forum?  I couldn't figure out how to tag him.  

So when she transfers the deed to me, then the risk is that the lender will call the loan due?  What is the advantage/selling point to the seller to agree to this type of deal? 

How does this differ from lease to own? Where my $20k is an option to purachse at XX price with the $20k going towards the purchase price if executed? 

I found an off market deal.  This lady needs to sell her primary home.  She has since moved out of it and is living with her son.  She has 20k in equity in the home.  I want to get creative and offer her $20k cash, and then take over the exiting mortgage.  

The way I plan to take over the existing mortgage is to connect her mortgage to my company's checking account and let it ride on auto-draft each month.   Therefore, I assume the deed will remain in her name, otherwise the loan could get called if she quitclaims it to me?   

I plan to make a contract that states that she has sold the home, or all rights for the home to me, for the $20k + taking over payments.  Her recourse if I miss/stop payments is foreclosure, I forfeit my down payment.  

Question - Do I have legal ownership of the home if the contract states that I own it, despite the deed being in her name? 

Is this do-able? Does anyone have any experience in this technique?

Thanks BP fam 

Matt

Excellent, thanks!