All Forum Posts by: Robere Istatia

I am selling a tax deed piece of vacant land. I have a quiet title and no liens on the property. I have a buyer but I am not familiar with the closing process. Is it a must to go through a title company or can I self close. I am in FL and I have a FARBAR contract but I am not sure if it can be between me and the seller or is there any other professional that needs to be involved. Please help, I am trying to close May 6th. 

I dont have an issue paying the debt off, I just dont want to pay it off extremely fast because that wont help my score as much as if I were to make my monthly payments for a consistent/extended period of time. The issue was never the payments because I have a low loan amount/ monthly payment. I do agree that my priorities were wrong but at this point that is water under the bridge. I am specifically looking for resources or anything that can help me get into a house. I know I could put a mobile home on one of my properties but the cost benefit doesnt seem worth it. There are a lot of hidden costs behind mobile homes, its not just a situation where you place a mobile home on a residential lot (zoning, utilities and costs)

Hello BP,

I am a current investor in the Tampa, FL market. I have been investing in raw land and have created a small portfolio of lands. The land investing arena has been doing very well for me but now I want to switch my strategy to get into the rental property arena. Unfortunately, my student loans have crippled my credit score and now I am approaching 30 and have credit below 550. I only have my student loans and a paid off car with no late payments on my credit. I was paying my car off and investing in my and business and not paying my student loans intentionally because they had very low rates. My strategy worked overall because my car is paid off and my business has been up and running, and my loans are still relatively low (14k.) The one caveat i have is that my credit score has suffered because of unpaid SL payments and the car didnt help because I paid it off in less than a year on a 6 year loan. 

I am in need of somewhere to live as my mom is planning on moving out of state. I wanted to switch my method to taking out a mortgage and house hacking it to build wealth through that, but I dont have the time to build my credit (I have since started paying my monthly balance on the student loans and have opened a credit card and am making payments for the full amount)(I have seen noticeable jumps in my score since starting these payments). Long story short, I havent found anyone that will provide me with a mortgage. I have always had subject to mortgage investing on my mind but now I need to start heading in that direction. I am here to ask the BP community to ask about what you would do from here, what contracts I need, any lenders that would give a low credit score a mortgage if they dont have anything big thats negative on there credit. Any response much appreciated. #OperationGetAHouse 

Hello @Lavaud Charlemagne,

In my opinion, I would say it depends on the type of work you do. If you are constantly on the move or in less than desirable areas I would be hesitant to put my Macbook Air on a moldy/dusty/undesirable counter top but I would have no problem putting my $300-500 laptop on the same counter bc they are easily replaceable just in case something happens. If you are mainly in an office or meeting with clients I would go with Mac bc it is more prestigious and automatically gives you credibility. (No one questions why you have a mac in a meeting, they may look at you funny if you have a less than desireable pc in a meeting where everyone else has macs) 

I personally use a Macbook Air, Ive upgraded from a normal Macbook after Ive used/abused it in college. It finally got to a point where I said "I know I need to upgrade but this thing wont break" I did upgrade but still use my older Macbook to download music because they just dont get viruses. I know its a hard decision but to make the cost a little more even you can get a slightly used MB off of C-List or refurbished or slightly used and have full confidence that it works/looks great.

@Wayne Brooks Where do you find the template for the deed. Does the county have a format they require? 

@John Underwood Do you have any tips on how to find a reputable RE Attorney in my area, ever had a bad experience?

@John Underwood thank you for your response. I realize that the Tax deed is a quitclaim but how would I sign it over to someone else. It is just a plain document that shows the Tax Deed being bought by me but no way to transfer it to someone else. Are you familiar with how to create a document/ template so I can sign it over to someone else once I find a buyer?

I just bought my first Tax Deed here in FL. When I went to purchase the deed, I was provided with a piece of paper that reads "Tax Deed". I am wondering how I can make a quitclaim deed out of this. I am aware I can go through the quite title process to get a warranty deed but the process is expensive and I believe I can sell the deed as a quitclaim deed. The property is raw land in a residential neighborhood. The property seems to have the base of a structure as the property may have burned down or construction ceased on the property, which is unlikely in a residential neighborhood where homes literally surround the property. If there is any additional information you would like or any contacts you can provide it would be greatly appreciated. BTW I am located in the Tampa Bay Area.

Thank you to all for the responses, 

This leads to an additional question of mine for 

@Edward B. and @Chris Seveney:

How is the escrow handled with notes and to what extent am I going to have my money "locked up" in escrow and for how long usually. I have been learning about note investing but I haven't heard or seen escrow being applied to the examples, how often does this happen?

Hello All,

I am interested in buying a performing note. I have been looking into investing in notes but I am a little hesitant because

1. What is the pay structure (How much I need to pay them and how frequent) and the services that Loan Servicing companies offer
2. Is there a certain amount of minimum loans that they will service
3. In the case of a delinquency how would I go about the foreclosure process

If you can provide any feedback on these questions of mine or provide targeted links for me to do some more personal research whether it be on BP or an external source.

Thanks in advance :)

To add on to previous posts, if you would like just a broad overview of the business and to look at a little more detailed introduction (Probably similar to the things you will learn at a seminar that costs) you can use youtube. They have a lot of videos that literally walk you through the websites and what buttons you need to press. Depending on the county you are interested in they might have examples online, if not you can call the clerks office downtown and they will have someone that can walk you through the site.