All Forum Posts by: Richard Rodriguez

Yep. 

I've been studying them for 1 year but need some very specific questions answered.

I'm in great need of connecting with active investors who currently purchase properties with a land trust.

Please help...

Is anyone seeing this post? 

Let's say I have a property that is facing foreclosure a mortgage foreclosure in 4 weeks. The owner is deceased and has 3 children, but we need to confirm they are the heirs. Let's say we need to do probate but to stop the foreclosure we would have to put up 18k. How could we protect your 18k without the heirs obtaining title that would exceed the sale date? 

@David M. I sent you a private message. Awaiting your response. Thanks!

@Account Closed, You are right but in this case, there is no time for that. I have to stop the foreclosure within one day. 

There facing a forclosure.

Let's say the owner is pressed with a time-sensitive matter because they need money asap.

I am willing to loan them the money but need collateral so I want to have them transfer the deed. They also want me to buy the house from them.

I presume I would then execute a purchase contract with them which will give them collateral that I will buy the house and if I don't, they will pay me what I lent them plus a fee for lending them the money, as well as I, transfer the deed back to them.

1. So to summarize:
2. 1) Seller deeds the property (via a notarized quitclaim deed or warranty deed?)
3. 2) I lend them the money.
4. 3) I execute a purchase contract.

Is this the best way to achieve this?

Let's say the owner is pressed with a time-sensitive matter because they need money asap.

I am willing to loan them the money but need collateral so I want to have them transfer the deed. They also want me to buy the house from them. 

I presume I would then execute a purchase contract with them which will give them collateral that I will buy the house and if I don't, they will pay me what I lent them plus a fee for lending them the money, as well as I, transfer the deed back to them.

1. So to summarize:
2. 1) Seller deeds the property (via a notarized quit claim deed or warranty deed?)
3. 2) I lend them the money.
4. 3) I execute a purchase contract.

Is this the best way to achieve this? 

@Frank Chin I would love to put it in a trust but what complications are there in doing so? Like, I heard it's hard to get insurance on the property. This is in a 55+ community and will I have to get permission from them to put it in a trust?