All Forum Posts by: Nicholas Novak

I would try going to a local title company's website. They generally have standard forms for everyone to use. Then modify to your liking, add "or assigns" to the buyer. Maybe include a disclosure in there that you are an investor purchasing for below market value to turn profit. Then send it to the title company you are using and have them review it before you use it. Most will redline it for you but will not complete your transaction without reviewing your contract before you present them a deal. 

All that being said I am not an attorney and not providing legal advice, consult an attorney in your area

It's a Term Brandon Turner Coined. It basically means as a newbie it's tough to get traditional financing for investment properties without a large down payment and reserves.  So he suggests buying a 2-4 unit multifamily family as your primary residence and living in one of the units. That way you can more or less live mortgage free to save for future investments. Also when you move out and purchase a new property the original financing remains in place. He discusses it on many of the BP podcasts 

Yea you would think it wouldn't be but it is. A lot of places want 25% because there are multiple units. I'm calling around now

Has anyone house hacked in Northeast Ohio and have you found a bank that will lend an FHA loan or allowed less than 20% down on a 4 plex I'm planning to use as my primary residence?

Anyone doing any subject to deals in northeast ohio? Im looking for a title company thats familiar with them if any one has any suggestions?

Thanks,
Nick

Also at the top of the contract it states "this loan is not assumable without the approval of veterans affairs or it's authoriized agents" 

Any ever done a wrap or a subject to on a VA loan? Is a wrap the only way to do it?

The property is in northeast Ohio

I am a new wholesaler and i have a very good lead on a property with tenants. My strategy is to retail the property on the mls. Am i required to honor their lease as long as they are current on rent after sale is complete? Will i need to evict them to get them out or offer them cash to move?