All Forum Posts by: Paul S.

Sandy,

Do you have any updates on how the deal went/is going?

Paul

Dodd-Frank is a monster and there is more in there than most could really comprehend. I think one of the most relevant parts for BP members is Title XIV – Mortgage Reform and Anti-Predatory Lending Act which deals with Residential Mortgage Loan Organization Standards, Minimum Standards for Mortgages, High-Cost Mortgages, Mortgage Servicing, Appraisal Activities, Mortgage Resolution & Modification as well as a couple other items. There are plenty of sites that have summaries but I think if you are going to dig into it this is likely the most relevant section.

Robert,

I have a home in that area and have been extremely pleased with my property manager. I have had him for three years and he has done a great job. I will send his name and contact info in a private message. 

Paul

I agree with @austin Lee the management fee does seem a bit low. Also, I think @Nathan Brooks brings up a great point about the permits. Have you included the cost of those in your rehab estimate? Also your hold time could be increased if you end up having to wait for a permit to be issued. 

Wow, the BP community is really active on this one especially since it has been picked up by the media. I wish you the best of luck getting this guy out of your property.

Sounds more like a waste of time or someone trying to get you to do the work for them.

I would suggest coming up with a list of what you want or need in order to be an asset to your sponsor. Then work out a deal with them where you can pay back their investment with deals that you find for them. Talk to them so you both understand what each other wants/needs and come to an agreement.

I think trailer is the way to go. If you are just concerned with the size of the stuf you are hauling I think you will be OK, depending how much weight you are trying to move you may want to search some of the classified sites and look for a used flatbed trailer. I have one like the one you posted which I bent the axel on from putting too much weight in it; I then bought a dual axel flatbed trailer I can haul around 7k lbs. Anything more than that I might think about hiring someone.