All Forum Posts by: Ralph Carpio

Hi guys,

Does anyone know if Josh & Brad had a show concerning home insurance?

Cheers

Off the bat, I can tell you that this property does have liens.  Sure it may have 100 equity, per mortgage obligations, but since you mentioned problems with the city (weed or tall grass liens) you might consider checking it out.  Consider the following;

(1) Go to county records & verify the lien issue of the property (it'd be great if you get the parcel # off the owner, and if can't the address should suffice)

(2) Talk to city inspector & request records for the last 3 years, if available, verify amounts wed, if any.  Should you'd be sure that you want to deal with the property in question

NOTE: A warm smile and a joke will yield heaps of help with city & county employees.  The one I have used, for example, with the criminal court clerk -- "Hey, did you hear about the scandalous traffic case?  Apparently, a defendant was trying to make a federal case off a parking ticket that he got at the beach down & Broward.  Finally the judge had enough  & asked the defendant, 'Sir, did you NOT see a sign?'  And the guy replied, 'Sure I saw a sign, your honor.  It said FINE FOR PARKING'."

(3) Should you go ahead wit the deal, get QC from owner by requesting him/her to FedEx the original deed as without it a LP will have to draft a new one, which will cos you around $300.  NO MATTER WHAT REMEMBER THAT ATTORNEYS TOO ARE BUSINESS PEOPLE SO NEGOTIATE PRICE OF ANY & ALL SERVICES

(4) Get the property inspected & consider possible expenses for the next 12 months should you decide to flip it or rent it out. NOTE, that roofing could cost up to $5,000, and god knows how much would you need to pay for water heater, A/C and other.

Whatever you decide, I do wish you the best of luck.

ralph

Hey Jordan, welcome to the community.  I too am a "newbie", and I have learned much about aspects of the industry I did not know that existed.  Pay mind to Paul's suggestions, they are their weight in gold.  Added to that, what I am doing is listening to the podcast, and reviewing them through the BP Youtube channel.  I am not shy to direct questions to specific interviewees.   Perhaps that may work for you.

NOTE - in RE, like any other business, as also pointed out in the ". . .starthere" page of the BP site; there is no get rich scheme.  Trust me, after 10 years in the casino industry, I can testify to that.  So long as each "day" you progress a little bit more, you'll do well -- "Rise like a palm tree and you shall fall like a coconut" (Caribbean proverb)

best of luck!!!

ralph

Nice to meet "y'all"

I am in the moving process to Seminole County, FL and am keen on learning about the real estate & mortgage industries.  Even though, I had been introduced in real estate through property management in Alabama, there is so much I need and desire to learn about real estate investing.

I look forward in "meeting" many of you in the future, and should all go well make grade deals in which all of us Bigger Pocketers may profit in one way or another.