All Forum Posts by: Sam Tright

Hello, does anyone represent a DSCR lender who can loan against lower price homes in the $40,000 to $100,000 range? Typically we enter with hard money, do a fix up, and then seek long term DSCR based financing

Software should say "Pay taxes on Property X, it's coming due" ideally.

Basically the notifications you would require to maintain a big portfolio

I actually sell on owner finance but still need to track insurance and tax payments. I use Apartments.com for collecting payments from the buyer. What software is good for staying on top of due dates for everything else?

Subdivision requires me to to adhere to subdivision ordinances, public hearings etc. Land condos are a private subdivision that allows skipping all that, in the absence of zone change requests or building permiting. 

Okay. I thought to create some shared walkways to the rear units. Instead everyone in the back will have their own flag unit to avoid the downsides that come with common areas.

If I create a shared walkway space (eg common area) in a land condo, am I required to collect POA dues and maintain it for ease of access? Intuitively it feels like I would be, which would then move me towards doing flag condo units instead, to shift all development burden onto unit owners.

PS: Easements only are not being considered, since landlocked units take a steep value hit.

Just to see what's feasible I'm curious if a simple land condo with no shared anything could be done on a remote parcel without adding an HOA. Taxes are ideally paid directly to the city and defaults give the original seller the right to foreclose on that specific unit.

If this can be done then the lack of HOA appeal can be kept and there should be no downside to skipping the HOA that I can see.

Hello,

I am looking into land condos as an alternative to platting and approvals required by a minor subdivide. Are they generally faster? Do rural counties know how to handle them, or do these applications cause more problems than solve? The intent is to streamline reselling smaller pieces of land to different owners for mainly recreational/rural use.

Who has fix and flipped in heavy rental areas? How tough is it to find a buyer? I hear FHA appraisals can have issues due to the amount of REOs, distressed sales etc.

If so a back pocket strategy may be to seller finance and sell the note or land contract. Even at a discount most deals still pencil because of the very low acquisition costs in my area (Saint Louis)

I just read that these guys will certify title on tax deeds, and have a nationwide insurer: https://www.taxtitleservices.com/price-schedule/

Will talk to them on Monday. My concern is, will buyers accept an insurer that is not the title company?

An uninsured contractor hurts himself on your property. Is it actually likely that he will sue you? To me it feels like a thin case that he sues you, even thinner that he wins. He is his own business. But I would like to hear from others.