All Forum Posts by: Rizwan H.

@Ric Ernst thank you for sharing.

Hi, I am looking for a good landlord-friendly real estate attorney in the Indianapolis area experienced in dealing mold-related cases in the rentals. 

Thank you for your help

Hi

I was wondering if any of you have experience in handling this situation, seems to be a common case.

I am in the process of purchasing an investment home. The seller is willing to offer the seller credit/concession in lieu of repair. The seller also has unpaid taxes which is common in my county (as the current year tax is paid the next year. I am taking a conventional loan under my personal name.

My lender thinks it is not advisable to take seller credit as the unpaid taxes is more than enough to cover the closing cost (loan fee, title, appraisal, escrow) and therefore instead have the purchase price reduced by that amount.

My question is, can the unpaid taxes applied towards the down payment amount?

If the unpaid taxes can be applied towards down payment, then I can still avail seller credit which I can use it towards the closing cost (loan fee, title, appraisal, escrow). I prefer to avail seller credit as oppose to taking a price reduction.

Example:

Purcase Price: $200,000
Loan Amount: $150,000
Down payment: $50,000
Closing Cost (Loan fee, appraisal, title, escrow (3 months of taxes & insurance)): $3500
Seller Credit: $3000
Unpaid Taxes: $3400

Is it possible to structure the loan as,

Down payment: $50,000 minus $3400
Closing Cost: $3500 minus $3000

Thank you

Thank you Deb

@Chance Thurman just sent you a PM

Thank you for the feedback.

Thank you Debbie, 

That's a valuable feedback. Any idea how active these classes/meetings during winter time? I am in dilemma if I should try monthly membership as oppose to yearly if not much happening during winter and early spring.

Also, it looks like there is multi-member discount. Wondering if anyone else is interested in joining.

Hi, I am looking for a feedback on CIREIA membership? Are they good for beginner to intermediate level investor, from an educational and networking perspective?