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All Forum Posts by: Rick Rapant

Rick Rapant has started 3 posts and replied 32 times.

Post: Queens, NY 3 Family Note

Rick Rapant
Pro Member
Posted
  • Investor
  • North Myrtle Beach, SC
  • Posts 32
  • Votes 4

Hi Matthew,

What other info can you give me on this particular asset?

Post: Notes

Rick Rapant
Pro Member
Posted
  • Investor
  • North Myrtle Beach, SC
  • Posts 32
  • Votes 4

Hi Jervy,

Welcome to BP. Lots and lots to learn here about notes. Check out this site in the Forum Section under the Community Tab or try this link:  https://www.biggerpockets.com/forums/70-tax-liens-...   and scroll through the discussions and read, read, read. Ask questions by starting a discussion on the topic. Very experienced, smart people, wanting to help out and give back here. Hope this helps.

Rick

Post: Is there a market for land contract?

Rick Rapant
Pro Member
Posted
  • Investor
  • North Myrtle Beach, SC
  • Posts 32
  • Votes 4

Backed out of my deal as well. When it doesn't feel right walk away. Too may non responsive questions about the note, nothing recorded and their attorney wanted me to give them permission to sign for my LLC. No thanks... and bye, bye... On to the next one.

Post: Note School

Rick Rapant
Pro Member
Posted
  • Investor
  • North Myrtle Beach, SC
  • Posts 32
  • Votes 4

Hi Melanie,

I started out educating myself in the note world about a little over a year ago and you are on the right path by being on Bigger Pockets. I started out going to Eddie's 3 day class which was well worth the money to get a broad brush of this business. I made my 1st purchase, a partial, back in September and now have 3 more turning fine ROI's. There are many people on this site who can offer advice. I've been working with JW Warr at American Note Warehouse, https://www.americannotewarehouse.com/

He has plenty of valuable information on the partial note business and will spend time with you discussing it as well. He is very passionate about it. Just to let you know I have no affiliation with American Note Warehouse. Good luck and Happy Investing

Post: Is there a market for land contract?

Rick Rapant
Pro Member
Posted
  • Investor
  • North Myrtle Beach, SC
  • Posts 32
  • Votes 4

Thanks Paul. Made it very clear. Lots of things to consider on this one.

Post: Is there a market for land contract?

Rick Rapant
Pro Member
Posted
  • Investor
  • North Myrtle Beach, SC
  • Posts 32
  • Votes 4

Thanks Dion and Rod for this information. I am a bit hesitant on purchasing this LIC only because it wasn't recorded when originally written by the seller. Can you tell me an example of the type document the seller should use to transfer the title over to me?

Post: Is there a market for land contract?

Rick Rapant
Pro Member
Posted
  • Investor
  • North Myrtle Beach, SC
  • Posts 32
  • Votes 4

Hi Les, All,

I thought by law that all LC's need to be recorded. I read this in a document issued by Southeastern Ohio Legal Services. I too am in the process of looking to buy a discounted LC with a 24 month balloon that is currently not recorded. Is this going to be a problem?

I have the DD file on the current vendee which is in good standings. He plans on making the balloon payment with his 401k which I have a copy of and is well on it's way to cover the cost. Let me know what you think.

Post: Title Insurance for Partials

Rick Rapant
Pro Member
Posted
  • Investor
  • North Myrtle Beach, SC
  • Posts 32
  • Votes 4

Thanks Bill for your input. Always enjoy seeing your posts on the ins and outs on note investing. I will keep you informed of the outcome.

Post: Title Insurance for Partials

Rick Rapant
Pro Member
Posted
  • Investor
  • North Myrtle Beach, SC
  • Posts 32
  • Votes 4

Hello Bigger Pockets Note Investors,

It's been a while since my last post. Been busy educating myself about the note business. Wow, there is a lot to learn. I finally jumped in and am learning by doing as many say about this business. Started out small to get my feet wet and purchased 2 partials in September that are cash-flowing nicely thanks to learning from all of you out there on Bigger Pockets as well as other people I've met along the way. 

But enough of what's going on in my life. The question I have is can anyone recommend title companies that will issue Title Insurance for Partials throughout the country? I am asking Venture Title and Cap Fund Title which are the two companies that provided their services for my first two purchases. Waiting on a response.

Next question is what's your opinion on purchasing these partials without title insurance?

Your input is greatly appreciated and again thanks to all of you out there for the great information you provide to this community.

Rick

Post: Advice On Condo and Co-op Note Purchasing

Rick Rapant
Pro Member
Posted
  • Investor
  • North Myrtle Beach, SC
  • Posts 32
  • Votes 4

Thanks Dion. A lot of invaluable information to absorb. Will definitely look into everything mentioned prior to any purchases.