All Forum Posts by: Ryan Webber

You always are signing a purchase contract with the seller. You would have your name and/or assigns on the purchase contract with the seller. You then would have the buyer sign an assignment of contract (assignment) with a specified assignment fee on it, or you have the buyer sign a purchase contract between you and the buyer (double closing) for the higher price.

The investor I know that does double closings in Atlanta knows nothing of this law. He does all of his closings through his attorney, also.

I still don't understand how this would be a lending issue. So they require a lender to check the chain of title, and the seller has to be in title for how long? I would like to check out that link you posted but it's still not working.

Now you aren't referring to the new FHA regulations that prohibit flipping, are you?

16, wow. Chanel, you definitely could learn a lot by the time you turn 18. Just stay diligent with studying, and if you can, start saving your money. It would be nice if you had a couple thousand dollars to start with.

Welcome to the forum, Will.

You have come to the right place to learn. You might want to check out some of the articles on the left side. The past postings can give you a lot of insight also.

If you have any questions, just post them, and you are sure to get a wave of advice and insight.

I don't the specific property laws for California, but I know in Texas that the foreclosure laws specified in the property code govern ALL foreclosures. We have a nonjudicial foreclosure process for everything but home equity loans. You have to give notice to the tenant of default atleast 21 days before the sale and post it at the courthouse. Then a trustee just auctions it at the courthouse steps on the first Tuesday of the month.

It sounds like you have a pressure problem. I would start at the water shut off on the water heater and work from there. I'm supposing that you have verified that the cold water works properly. Have you also verified the lack of hot water pressure in a bath faucet? If it works in the bath but not in the sink it might be a clogged aerator in your sink (that's the screw on screen) or even possibly a sink component. Also, make sure that the shut off valve to the water heater is fully on. I might disconnect it from the water heater and turn it on in a bucket to verify it is opening properly. I'd then check the connection points in and out of the water heater and make sure they are clear. Try getting a nipple to connect the water in and water out pipes directly to each other and then verify that you are getting pressure to your faucets. If you are getting pressure when the pipes are hooked together outside of the water heater, I would probably get a new water heater.

There is a lot of wide open space around where I live, so I'm wondering if I'll find anyone here.

Hello?

It seems like we've had an influx of "pitch" posters the last couple days. They really bug me. I feel like they're the traveling salesperson that we need to run out of town. Just venting a little. All better now. :D

MGD, calm down. Deep breath. Just relax.

On a technical point, what you are offering won't even cash flow. In my market if a property rents $900, I wouldn't pay more than $45,000 for it.

The hard money lender I dealt with on most of my properties charged 12% interest with no points. The risk for the lender is that they may have to foreclose on the property and then take over management, rehab, and/or resell it themselves. Most HML's (like all lenders) don't like to get their hands dirty with owning property, most of the time they would prefer you to keep it and pay them.