All Forum Posts by: Robert Jenkins

From what i've learned through BP is unless your llc is established and has it's own line of credit/ history you're going to have to finance personally and quit claim it.

And yes i hear it's fairly common for banks not to deal with new LLCs

I'm a rookie myself so i'm sure someone else on here with give you more experienced answers.

I think that's adverse possession or something. as long as he paid his property tax i'd concider it investing. (servants paying it for you is even more of a landlord investor.)

that simple?

What if i don't hear from them? Can the heir sell it yet or will the court need to confirm the sale? How do i find that out?

Ahh so many questions.

So i've been posting up a storm today, i know, but i've starte making offer and TRYING atleast.

However, there is this one house, owner just passed away 6 months ago, home is in probate, and the heir lives out of state.

How do i/ would you go about getting this property? Do i visit the court? How do i go about getting into this?Especially if i want the owner to carry (or i'll need to get a partner).

So i recently started writing LOI's on properties and the main goal is either wholesale or rehab right now... I wanted advice on how to talk with investor/homeowner and how to make it seem like i'm not swindling them and actually am providing assistance.

For example, i wrote an LOI on a home that is in dire need of rehab ARV is probably around 300k and i wrote 135k seller carry or 100k cash and she was hesitant. Then she asked what would her home sell for rehabbed, and i stupidly gave her a price range, but i didn't know what to say. If i said i don't know then she'll think i'm a crappy investor. So a few days later i came back with an offer of 142,500K (seller carry of course)and she seemed more content doing it herself or holding onto it. Also most of them don't asnwer my phone calls, so i meet them in person.

(i use the LOI because that's what i'm use to)

How would you guys handle presenting the LOI/Offer and what are some other reccommendations you have? :idea:

Well this week i wrote on two homes, both investor owned and in dire need of repairs. How do you guys deal with the owners when you offer to buy them?

So far they have all been 70+yrs old and the homes are either in terrible condition and empty or terrible condition with long time renters in them. How should i act with the owner and are these good properties to concider for rehabs. (usually owned free and clear by owner)

Another way is an AITD (all inclusive trust deed) or WRAP they'll call it. It's little more shady, but still legal.

Wow. Thank you big brother. Jeez.

I mean even if they are terrorists, why not let us take their money? Just watch the house after they move in.

Financial terrorist? Like Madhoff?

GOLIATH!!! WOOOO!!

or Viper i almost passed out my first time from the loopy g forces

well why not get a 15 amortized over 30?

Get the lower payment and better rate?

If you hold them that long and 15 years is up refi them and leverage them again or pay them off. I dunno, i'm not a loan guy but i do enjoy very much screwing lenders and using them for all they are worth.