All Forum Posts by: Chad Lubke

I wanted to see if any investors in the Tampa Bay area could recommend a good tax/asset protection attorney that understands real estate. Until now we had been flipping and are transitioning into buy and hold and want to set it up right.

Just emailed my info

Thanks, we paid cash for this deal and all insurances, builders risk, liabilty etc was included in the rehab figure

Looking for advice on aquiring private money. We have a solid consturction background and on our most recent deal purchased a property for $25k, spent $28k on rehab (40 days to complete), and have a deal in place for $79k cash. We bought this property cash but want to do multiple deals at a time and are looking for what fair terms are on private money. Our goal is 100% funding for aquisition and rehab.

Thanks all

I'm looking to put a buyer/ tenant into a property within 30 days of our acquisition. I know the rule stating"Re-sales occuring 90 days or less following acquisition: If the re-sale date is 90 days or less following the date of acquisition by the seller, the property is not eligible for a mortgage to be insured by FHA." [24 C.F.R § 203.37a Sale of Property]

I am wondering if we can put the house for sale/ negotiate a contract without executing a purchase agreement and put let the buyer move in under the terms of a 3-5 month lease and security deposit with a higher rent that would be credited toward the purchase price. Our plan is to have a pre FHA approved buyer execute the contract after we have passed the 90 day period and have them close within 30-60 days under an FHA program. If they don't end up buying we will not renew the lease and put it for sale. Is this legal?