All Forum Posts by: Account Closed

It may be that one is showing the last MLS listed amount but it was bid up or the offer was lower in the back and forth offer process and the true sale amount is not reflected on the MLS listing. In the states I buy and sell, we have to fill out a form that tells the county how much we actually bought or sold the property for. It has no relationship to what the asking price says in the MLS.

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Originally posted by @Sheeva R.:

Hi everyone,

If you had 200k in cash and wanted to create a maximal cash flow positive investment, what would you do? And where would you do it?

Any advice would be appreciated, thanks in advance!

You could buy 4 houses with "Subject To" in Phoenix with that amount of money and get about $2,000 a month cash flow and get about $50,000 back in down payments in the process. Just as an example.

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Originally posted by @Angela Meraklis-Lyons:

I've always been extremely diligent about my credit. Nearly everything is on autopay.

Last year, I had my student loans deferred because I had to stop working due to disability. Technically, I did that over the phone in October of 2016. Since I check my credit score regularly, I discovered in March of 2017 that my student loans, that I thought were in deferment, were past due. That deferment only lasted 3 months!

I immediately contacted the loan company, but they said there was nothing that could be done about it. I had consistently made payments every month for years, but stopped my autopay when I thought I know longer needed to pay.

My credit score went from mid 700's to the 400's overnight!! I have about 14 student loans (never consolidated because many had great interest rates) and all of them were reported as being in default.

As you can imagine, I have no idea how to finance a deal without seller financing. How long will it take to build my credit back up? I'm up to low 600's now, but how do I speed the process up?

I don't use my personal credit for any house that I buy. I don't know my credit score and couldn't care less. I use "Subject To", Wraps, Lease Options, Owner Financing. Put those terms in the Search box above to learn more. Besides, Autopay is a trap and a big mistake. Wells Fargo just announced that they somehow "overpaid" accounts on AutoPay until the accounts were empty and then their customers were charged overdraft fees.

http://www.charlotteobserver.com/news/nation-world...

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Originally posted by @Joe Martin:

I have a couple of investors that want to participate in a flip with me. I want to provide them collateral which would be the property. Does it make since to structure this in a trust with me as trustee and investors as beneficiaries based on percentages invested? Or do I create an LLC just for this property and have investors lend the LLC the money.

Investors will get 12% interest only payments until property is sold and then principal is returned.

Trying to come up with a creative way to do this and am open to any ideas.

No need for an expensive Trust. I buy in my LLC and my investors get a written contract as to their share based on agreement. The LLC is intended to insulate *liabilities* (think lawsuits) such that if a lawsuit occurs, it doesn't cross over from or to the LLC. The investors are protected (as much as can be) with them lending to your LLC. Your agreement to them is simply what a bank has with you when you buy a personal residence, lender and borrower.

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@Dmitriy Fomichenko or @George Blower Can I move my 403b money from an organization I no longer work for, to a Solo 401k to invest in Real Estate? *OR*, am I better off putting the money into a ROTH IRA to invest in Real Estate? I do 1099 consulting for a couple of different companies.

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Originally posted by @William M.:

Has anyone heard of Robert Schow with Finance Falcon LLC? I received an email from this person claiming 100% financing. But of course we all know how that goes. All comments and advice are welcomed. Thank you.

You answered your own question. "I received an email from this person claiming 100% financing." He speaks Nigerian ;-)

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Originally posted by @Scott France:

My father owns a SFH free and clear . Its worth around $200k . Between the annual property tax and maintenance/upkeep it’s getting to much for him . He wants to down size to a condo with hoa for lower maintenance and less tax . So the question is what’s his best move ? When the dust settles will it be more affordable?

So the question is what’s his best move ?

Arizona, Florida, Nevada, S. Carolina - there are a LOT of places more affordable than MD. He should seriously consider relocating if taxes are too high in MD for him.

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@Michael Biggs @Mike S. @Ihe O. @Michaela G. Here it comes. It's Saturday at 10:00pm - do you know where your renters are?

"ICE Plans Largest Raid On Northern California Illegals After State Passes Sanctuary Legislation "

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ICE Plans Largest Raid On Northern California Illegals After State Passes Sanctuary Legislation

by Tyler Durden

Thu, 01/18/2018 - 15:16

U.S. immigration officials plan to conduct a "major sweep" in San Francisco and other Northern California cities over the next few weeks in the recently-minted "sanctuary state," reports the San Francisco Chronicle.

Centered in the Bay Area, the campaign has its sights set on over 1,500 undocumented individuals - sending a message that federal immigration policies will still be enforced in the 'defiant' sanctuary state. According to The Chronicle, ICE will be flying immigration enforcement officers in from around the country to assist with the raids - which will include worksites believed to be harboring illegal employees. The raids could take several days, according to an unnamed source.

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Originally posted by @Ray Agosto:

Mike S. Now to fully Tackle the cost, do you have any tips and tricks? As in how would I be able to break down what I need to pay for how I need to pay for such a such are in better words just how to price everything that needs to be fixed had and also how to determine what needs to be fixed?

Team up with someone who has some experience.

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All Forum Posts by: Account Closed

Account Closed has started 9 posts and replied 390 times.

Post: Why does Zillow/Redfin's last sales price differ frm county site?

Post: What to do with 200k to maximize cash flow

Post: Credit Dispute- Score dropped 300 pts overnight

Post: Trust or LLC for multiple Investors

Post: Self-Directed Solo 401k for Real Estate Investors – Q&A

Post: Contact from a lender. Do you know who this is?

Post: Down sizing. Need advice?!?

Post: I didn't ask if they were here legally, now what? Who pays rent?

Post: I didn't ask if they were here legally, now what? Who pays rent?

Post: A gutted owner financed.