All Forum Posts by: Moises R Cosme

Get a hard money loan, that way you can avoid the mortgagee's repair requirements.  This is your best move - I think draining your bank account is a bad idea.  

This is a rockstar move!!!  Great work.  What's next??

If he is not getting back to you now, it is unlikely that it is a fit.  As a general rule, do not chase anyone that you are paying money to talk to you.  

Jason, 

That is a bad idea (in my opinion).  Spend the money & separate the utilities.  

@Edgar Gonzalez 

1. what is your job?

2. what is your friend's job?

3. how are you finding the deal?

4. how are you going to fund the purchase?

I would NOT buy separate properties, I would purchase a 3 or 4 family; rehab it, live in one of the units with your friend & rent out the other units.  Save money by generating as much income as possible with your income.  

@Izac Sheforgen check your state regs; in MA, it is not permissible to take rents in advance. Credit scores never lie.

@David Ounanian this awesome!!! Congrats!!!

@Brandon Wine 1. Built after 1940, 2. Within 4 blocks of local public schools.

@Percy Bell make sure you have a clause in your ourchsse agreement that makes the sale subject to clear, marketable & insurable title. Massachusetts is a quit claim state, all sales in out state are conveyed with a quit claim deed. Make sure that you get title insurance (that's the real difference between quit claim & warranty deed conveyance).

@Jack Smith there is no reason to keep the Buyer from reviewing the purchase agreement.  That feeling you have is doubt that the person you are dealing with is being deceptive - if you feel like they are being less than honest, pass on the deal.  Trust your instincts.