All Forum Posts by: Ryan Seib

Yeah if they still have a 10 year lease then they should come to you hat in hand if they want these concessions. You can ask for equivalent concessions from them to make it mutually beneficial. Most of the time it seems at least on something, one persons junk is another's treasure.

Could look up their bankruptcy filing (if any) on the federal docket. That would give you their financial picture better. Also could look at title of the property to estimate approximate outstanding mortgage on it.

https://www.uscourts.gov/court...

IMO the main consideration is an attorney that is wise, connected and deft with follow-up on issues outside their immediate recall, who you implicitly trust. Structural advice like a lawyer in every state or calling a lawyer that is known to do investor work around the country or something, without more, is one thing. Even better is actually knowing the lawyer and knowing they can do the job. Seems like maybe my advice could be more helpful. But really, this is a fundamental point people I think miss often enough. (Any lawyer can find contacts or research laws in other states if needed, those are details). Again, my opinion. I hope it is helpful for you at least.

Trying to fix a problem created by the previous solution where the previous problem was the same as the current and the current solution is the same as the previous right. 

Yes pick a state law so that is not question later. Could be either state. Standard forms vary. Start reading some from Google so you can refine your understanding of what you are looking for first, is my thought and advice I suppose.

Could be either way. A contract is usually a contract. So it is technically fully enforceable in court. In practice the EM is the only thing at risk. Specific performance (ie forcing the sale) is pretty unlikely because ask yourself if you were a judge in court would you order someone to buy and live in a house they did not want, even if they did back out? Probably not. Although depending on circumstances you as a judge may feel they owe more to the sellers than just the EM. What the judge thinks is 'right' matters. 

Land contracts are no big deal I use them myself and write them all the time. The mortgage lenders do not mention them so most people do not know about this option. But among investors it is one of the first things you learn in WI.

The exit strategy is the same for any commercial loan. Commercial loans have a balloon payment in there every 3-5 years too. The banks are just not as loud about that. So you just need to plan ahead to be able to refinance when the time comes. A favorable interest rate will do that. After 10 years you should definitely have enough equity to refinance without any trouble.

Every state is different on the fine points of property title laws. But generally they handle it similarly. If that is a community property state, or marital property state, then the property owned by husband is martial property. She would just sign an affidavit of his death and send that to the register of deeds to change the title to her name. If not a marital property state, she is almost certainly first in line to inherit the house. She might have to have the probate court transfer title to her name. It would possibly depend if he had a will/estate plan too. Bottom line is in most cases it should be a fairly easy fix in theory. The details will likely have to be handled by an attorney or at least a title company.

DSTs are an advanced version of statutory trust that allows investors to transfer 1031 exchange money into. They are used to attract a investors to pool money for institutional investments. A living trust is for personal use to help people to plan their estate.

Yes agreed. The lease option is more simple than it sounds. But if you are just approaching it best to have a lawyer do it/help you. It is possible around me for people to reuse most of these forms and agreements if they wish. I am not sure about TN.

Best wishes working on that! I love master leases as well. It can make things really interesting in a good way.