All Forum Posts by: Moises Rafael

How's it going everyone

I came across a super motivated seller who gave me a call, they have a house with little equity, so I know cash offer wouldn't make sense.

Instead I wanted to do a wrap mortgage since it's in a great neighborhood, house great condition, and it will rent well above the month payments, seller doesn't need much at closing..the problem was, it's and FHA loan, from what I know you can't wrap those.

What is another way I can structure this to come up with a solution?

Thank you very much for the help.

I am in the process of closing on a duplex here soon, also inheriting a tenant so I'm ready for that too, very excited/nervous, I am ready for the ups and downs of managing rentals.

But I was wondering if anyone knew if it would be ok to open up a separate personal checking and savings for the property, since the mortgage is under my name and not an LLC, or should I go ahead and create an LLC to open separate business checking and savings? I hope my question makes sense.

Thank You!

I just met up with a seller

Got a contract signed

What am I supposed to do there after

Do I go to the title company and tell them I got it under contract and to wait for me to get a buyer, or do I find a buyer to come sign the contract and then go to the title company?

How does this work?

I plan to wholesale this property.

Thanks

How's everyone doing?

Has anyone in the local area done assignments of contract or double closing?

and if so which title company was it

I was looking for a title company that I can use to wholesale properties in Belton and Temple, I went to one in Belton the other day and asked if they would be able to do either or and they had no idea what I was talking about.

Thank You!

I don't have anything under contract right now but would like to have a title company in place ready for when I do.

On one of the properties the leases on both units are month to month and the other property is actually about to have have one lease expired here at the of Jan, so I believe it should be fairly easy to move in if I go through with either property.

Thanks

Hey James

I wil be sure to let you know when I find properties that fit this criteria.

Happy Thanksgiving everyone! Hope y'all are having a great day with family today (everyday actually).

I'm currently looking for duplex to house hack, and the ones that my agent sent me, all the units are currently leased.

Does that mean I have to wait till later to buy one of those properties or how would that work? the loan I'm using does require me to live in the property.

Thanks for your support James, I appreciate it.

Actually found a meet-up at Temple,Tx where they meet at cotton patch, I plan to be there the next Meetup Dec 13, I look forward to meeting y'all. 

Good afternoon everyone!

I'm finally back from overseas and was wondering if y'all know of any REI meetups here in Belton/Temple and where do they meet? I also don't mind driving to Killeen if that's where y'all meetup

Thank you! 

I made a list for some multi-family(absentee owned and 50%+ equity) properties I wanted to send out letters too, how would I go about writing the letter, I plan on using a VA loan to house hack.

I'm sure everyone else is offering cash offers and fast closing and here I come with VA, what would you write in the letter?

Thanks!