All Forum Posts by: Rich Johnson

Thanks so much Jon. I sent you a Connect request. Yes I would like more info on the REIA Club.

Please let me know if you find anyone that would close my Sub2 Deals and such. I really appreciate the help.

Richard

Hello,

I am looking for a title company or attorney that would close my deals Sub2, Wholesale or Land Contract. Mainly Sub2 deals.

I checked the RIA site but nothing was near by. So far when I've been calling Title companies they've all turned me down. Most important is one that will close the Sub2 deals. An investor friend of mine in Philly has a Title Co., but when I called them they said they wouldn't do it in my area because it's too far.

Any help is appreciated.  Thanks

Richard

Hi Shawn. I went to the courthouse yesterday and the house is still in the deceased's name. Records show that no heirs were found that's why it is still showing in his name. The records show it is in his name and the Bank will be foreclosing. Any suggestions?

I found a vacant property in a very nice neighborhood. It has very high grass and needs lots of work. There is a huge deck in the back were a pool use to be and an addition was started but not finished. So it is open to the elements.

When I was looking at it a neighbor started talking to me. He said the owner was doing an addition but passed away before it was completed. The kitchen is completely stripped.. ....

...I went to the courthouse and there is a mortgage through Bank of New York. It is scheduled for a foreclosure hearing in Nov 2009. What I want to know is:

- Is it too late to try for a short sale?
- Who would sign the contracts and paperwork since they can't find the heirs?

Look forward to the assistance.

Thanks,
Rich

Hey Don.
How do you find a local real estate investing group. Everyone suggests this but how do you find them. The phone book does not have a listing for this. And I tried desperately to do an internet search for my area but nothing comes up. Any suggestions?

When I have a lease option where I sub lease to someone else. When the person I sub lease option to wants to do their option will we have to do a Double Closing? If not how would that work to avoid that? Or is that the only way it can be done?

Thanks :D

Thank you Jon. Now if I would L/O the sub L/O when it came time to close would I have to do a double closing? When my buyer excercised their option.

I'm still trying to learn as much as I can but I was just wondering...
If I could get a property on a Lease Option then in turn get someone to purchase it from me on a Land Contract with baloon then....

1. Is that legal since I wouldn't actually have the title even though title wouldn't transfer right away.
2. How would that work when my buyer excercises the buy...would it be a double close?..Would they even do a double close since I wouldn't have the funds myself to excercise my option (because I'd be using the money from my buyer)? Or would I assign my lease option when the baloon is up?

Any help would be appreciated.
Thanks,
Rich