All Forum Posts by: Account Closed

Jack,

Got some investors there. And a 600+ list of nation-wide investors.

Heck, it might work. I don't know.

Let me know 

It's being changed soon, been commercial for 3 years. Got yaked at on here for having the wrong web extension. He was right. Whatever...

Rob

Just a note on his "cheerful" return policy might not be what it is.
http://www.ripoffreport.com/directory/Stacy-Kellams.aspx

Now if it's true or not, I'm not sure.

It did catch my eye too, I would love to know if it's really worth the $100?

Sub2 would work, depending on how much fixup it would take to get it rentable and how far $-wise they are in the arrears.
If the terms are right, you might be able to pull it for 10 years at a good passive income. Might be too long...

I'm in the boat.

I've got one now that I'm thinking about doing a short sale - wholesale.
Problem is, you will have to come into the first closing with money then do a double closing. That's if it's going to another investor.

If you are selling to a non-investor buyer, you might have to buy the short sale, allow it to season for 30 days then sell to the final buyer. If the bank allows it.

I've had a view banks decline the short sale due to my contract stating, "and/or assigns".

I'd like a little direction on this one too.
Haven't done a short sale in almost 8 years. And I've heard a lot of things have changed.

Hi @Heidi Taylor
Welcome to BiggerPockets!
I've got property in Raleigh and Greensboro.

I fear a lot more than I should.
I've got properties that I bought back before the crash, been carrying a negative for awhile.
The other properties cover the negative, and they are in great locations. So I just held them.
At least I think I'm worried, I am now on blood pressure med's. I guess that's proof.

Most things in this world that you worry about, you shouldn't. And most things that you don't worry about, you should, at times.
Funny isn't it.

Unless you can buy it directly into the LLC or Corp, it's hard to get the transfer.
And when you do buy directly into an LLC, in most states, if you have to evict, you will be required to have a lawyer represent the LLC.
Some states require a business license of some kind on each property you own if you live out of state.
I run under an LLC for groups of properties in the same area and an LLC for each apartment. All the LLC's are tied to our Living Trust.
And many of them are in title holding trusts, which ties back to the Living Trust.
This way, if I or my wife dies, we don't have to play/pay the probate in other states.
Just food for thought.

Thanks Joe, that actually sounds like the best idea.
Whatever I end up with, I'm going to have to run it by my lawyer anyway.

I've never needed to used a hard money lender, well, the time has come.
I ran across another investor who is liquid at the current time and I have issue where I might need a 6-12 month loan.
Neither myself or the other investor has an example of the contract we should use in this deal.
Does anyone have at least an example of what we should use in this situation?

It started up around two years ago or more. I've got tenants that I let slide a little on the deposit because they had lost their money in this scam. I wrote an article on it back in April 2011, you can view it at:
http://buywyominghomes.com/blog/?p=11
It's sad when people take money from people that can't even afford to buy their own home.