All Forum Posts by: Robert Huizar

A Tax Deed auction 

The property (condo) has an HOA listed as the current owner after foreclosing on a loan it made to the buyer (perhaps this is represenitive of fees not paid). The property has over $35k in property taxes - I assume this means that the HOA is responsible for this property's taxes and they are the ones who have not made the payments. ( Or does the owner of a home in an HOA tract have to assign the deed to the association, [I have no HOA experience]?).

If we bid and win on this property,  the situation becomes unclear... since the property sits in a housing tract from the association, it seems that we would be taking a property away from the same association we would need to work with after the sale.  Does that sound correct?  

What is likely to happen after we win the Deed bid?  Thank you. 

@Christopher Phillips

Yes! This is correct.  However, What method to acquire the property would be best??  Lengthy Escrow seems ridiculous... I'm looking for a little bit more detail here...

I have a friend whose property will be going up for auction soon due to delinquent taxes and failure to pay on their payment plan and they have no intention to pull it out of auction.  I offered them a sizable amount of cash to handle the matter outside of auction, and to my surprise, they agreed seeing that they were going to abandon the property anyway.

Whats the best way to handle this type of transaction?  Quitclaim with disclosure?

My current mode is to buy distressed, repair to conventional funding standards, and unload quickly at a discount so that the buyer will have immediate equity and possibly continue improving the house to maximize returns or place a tenant for cash flow.

But perhaps I'm missing the mark.

If you are a first time buyer looking for your first home to invest in, what is important to you?  I look forward to your enlightening responses!

We have a classic trashed-by-renter/fed-up-owner 3 bedroom 2 bath purchase house in a small town tourist destination in California that will undergo extensive renovation to bring the property up to market demands.  Paid in full, this is a Refinance and Flip request.  Possibly interested in repair fund if reasonable.

• 1st position lien available.
• As-is Value $165,000.
• ARV $235,000
• SFR
• 3b/2ba
• Loan Request Apx $130,000 
• LTV:78.8%
• ARV: 55.3%
• 1 Year term
• Interest only
• Proof of Reserves available
• LLC available

Looking forward to discussing this matter!

Call Robert 

626-552-9715

[email protected]

California LLC. Business established Jan 2018.

My partner and I started off by forming an LLC but quickly learned that we should probably have a passive and an active income LLC. We have already poured our funding into the initial LLC's business bank account but now want to redistribute the money so we can fuel the 2nd llc's bank account. But since one LLC is not the parent of the other (individual stand-alone entities), we're not sure how to properly account for this transfer.

Whats the proper way to do this to not incur fees due to technicalities (such as avoid making it look like a disbursement? Do we just make the wire and note in our accounting that we were still starting up and unsure of how to distribute capital? Do we need to amend the LLC articles showing the corrected investment amount?

Thanks for your help

I'm finding success with real estate!  Whoohoo!  So this begged the question about what to do with the money:  Should I look to pay off my primary mortgage on the home I and my family live in? I've had one opinion say "no" because no one is demanding that amount of money from me at the moment, but I feel as if should my real estate business be destroyed in the next market crash, I would have my property free and clear and not have to worry about THAT debt.  In some way, it is comforting to me.

I'm sure this gets asked a lot so thanks for holding back the pitchforks. 

When the end goal is to have a portfolio that provides positive cash flow beyond your expenses and meet your lifestyle, I could imagine a portfolio containing a few dozen properties and more.  Given that an individual person can only hold so many mortgages, would it be an appropriate strategy to always seek seller financing first?  I have zero mortgages in my name, so when the opportunity for seller financing shows up, should I jump on it to keep my mortgage total as low as possible?