All Forum Posts by: Russell Brazil

 Id say 3 weeks is an unacceptable timeline for a landlord to leave a giant hole in the wall.

How long was the issue ongoing for? If we are talking a week or less, then no. If we are talking about a month, then Id say yes

If you plan on selling other people's houses you can charge for that with a license.

If you are only selling your own houses, there is no benefit...but there is substantially higher liability.

 Philadelphia, Baltimore, DC, NYC are all cities where this is particularly true.

From what I garner here....to me it seems like the title company just took your money, and distributed funds to a party they should not have because the property did not close. When the transaction didnt close, you simply should have received your funds back.

So what Im seeing here is the guilty party is probably the title company. Potentially the lender if they conspired with the title company. 

Also as a side note....Youve been pretty passive aggressive and attacking to people trying to help you out, and simply understand the situation better. Be kind. It will go a long way.

 Nope. Particularly in urban areas. Values can change dramatically within tiny distances in a city. Appraised value is going to look at comparable based on distance...while the market may value 2 properties, literally across the street from each other differently by hundreds of thousands of dollars.

Investors for decades that do cash out refinances, or BRRRR as we now call them, have known this for decades. Its why we buy on the edge of certain neighborhoods, because we know it will appraise dramatically higher than its market value...thus allowing us to cash out much more money on the property.

Appraised value is a completely different metric than market value.

Nearly every property has liens. A mortgage lien being the most common one. The title company takes the funds from the sale, and then pays off those liens and clears them. You purchase title insurance in case there is a lien they missed.

It sounds like you merely defaulted on the contract. In which case, youre probably not getting your EMD back.

Quote from @James Wise:

Quote from @James Wise:

Quote from @Scott Allen:

Quote from @James Wise:

Quote from @Seth Gordon:

Good afternoon,

I am new to the BRRRR community and wanted to see if anyone has any good information to share. I currently work for a big GC company in Columbus, Ohio, and have done both rehabs and new builds. I am wanting to start real estate investing to become financially free in the future. Any tips or pointing me in the right direction will be greatly appreciated. If anyone has any questions for me, feel free to ask as I also have a lot of information on the construction side of things as I have rehabbed over 200 units in multifamily housing projects for the GC I work for.

Thank you!

***Columbus Agents right now***

 Columbus Uber drivers*

 I was gonna drop the white couch meme, but I figured I'd end up in BP jail for that one.

 @Russell Brazil in your expert opinion as chief moderation expert, do you think dropping the white couch meme on Columbus threads would get me put in BP jail? 

 I had to Google it. Yeah, I think that would probably land you in BP Jail lol