All Forum Posts by: Pat A

Hello all, 

Thank you for all the responses. After I posted the question, I don’t know how to get back to my own post. I just saw all your thoughts today.

@Ned : The power company doesn’t own this land but has purchase easement this land a longest time ago. They said they are not interested to buy this parcel.

@Steve Vaughan I don’t understand 

@Maynhia I think that’s a great idea. I will look into it.

Hello,

I think I made mistake buying this lien certificates. But just in case, there is a way out ...... please let me know. 

I bought tax lien certificate for an empty land (51,000 sq ft) with high voltage electrical tower on. RM-3 zoning. This is a subdivision in townhome community (If I say it right). 

Assessor Office show a value of $175,000. Current tax is about $2000 per year. This is in Meza, Arizona.

Should I foreclose it or let the certificate expires and voided?

Thank you,

Thank you for the response. However, I just want to be clear if I get it right.

So, wholesaler doesn't need title insurance but still need to do title search before finding end buyer. Is this correct?

To do title search, is it reliable if I just pay the private online website to get the ownership info?

I saw a news that someone selling a house that doesnt belong to him. My question is in the wholesale deal how and when can I verify the ownship of the property? Is it after signing option to purchase? Or as a wholesaler, that's not necessary?

Thank you

Thank you for the input.

Per Jon, [ONLY do it if they can purchase outright]

What does it mean by "purchase outright? Does it need to be cash buyer or mortgage is ok? The thing is....

There is a person (relative of the homeowner) who want to buy this house using traditional shortsale. But the relative isn't qualified for that amount. So, I'm think....

An investor can do shortsale, then rent-to-own to the relative. Would this be a good idea or not?

My mind just say yes, it's a good idea. What do you guys think?

Thank you again for all the comments.

Here is a situation. The house is underwater and the owner is willing to do shortsale or any strategies to stay at the house and have a chance to buy the house back.

Is the above homeowner's wish possible?

To newbie's eyes like mine, it's possible. I'm thinking about shortsale with an option to buy back or rent-to-own. But not sure, may be there is a trap somewhere along the line.

Please advise, thanks

One question still stuck in my mind is that do I need attorney or legal service membership when I'm a beginner?

(bcoz I read somewhere that contract can be reviewed by attorney of closing company that I plan to use)

All and all is bcoz I'm focusing on finding my first deal. I don't want to worry about other things.

Is this good or bad idea?

Hello all,

From reading, it's recommended that RE attorney should be part of investor's team. Since RE attorney would
charge expensive fee, I'm thinking about being member of Prepaid Legal service.

Anyone has this service? How is it? Can it be replaced for attorney?

In Sean example, what's the name of contract between wholesaler and seller, and between wholesale and end buyer.

Just want to see what should be included and wording.

Another thing, what's gonna happen at the 5th year, as a wholesaler. How can I get out from the deal??

For a wholesale deal, I read somewhere that one of the question to ask the seller is "How many years left in mortgage?". My question is why ask. How is it affecting a wholesale deal???
Does that mean my offer shouldn't be less than the remaining principle of the mortgage???

Thanks for the input