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All Forum Posts by: Shafi Noss

Shafi Noss has started 96 posts and replied 543 times.

Will mean a less competitive landscape for landlords that do consult attorney's and follow the provisions. 

Post: 130 Acres Flash Sale Near Galveston

Shafi NossPosted
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  • Votes 304
Quote from @Jacob Sherman:

is the land already shovel ready ? 

 No it is not. 

Post: 130 Acres Flash Sale Near Galveston

Shafi NossPosted
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An acquaintance of mine owns a 130 acre tract of land with 17 acres of highland appraised for a little over $1M on Crystal beach near Houston. He is distressed and will sell at a discount in exchange for speed. If anyone is interested, or has a contact who is, please feel free to PM me. 

Post: My Flaw with BRRRR.

Shafi NossPosted
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My strategy is to underwrite conservatively and then be pleasantly surprised, although miss more deals that way. 

Post: Title Attorney in Georgia

Shafi NossPosted
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Quote from @Mitch Messer:

Hey @Shafi Noss, I've got the perfect Atlanta attorney for you!

I thought I had your number, but I'm not sure.

Text me for her contact info. Note: I can't message here on BP! 

You have my WA, I'll message you there. 

Post: Title Attorney in Georgia

Shafi NossPosted
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I'd like to talk with a title attorney in Georgia about clearing a fraudulently filed warranty deed on 2 properties I would like to purchase. Does anyone have any recommendations?

Post: GUC Funding for Warehouse in Texas

Shafi NossPosted
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Anyone have do or have a reference for a GUC loan for a warehouse in Quinlan, a satellite town of Dallas?

According to borrower 

Land is worth 310k
Debt is 200k
Construction Costs: $300k
ARV: $900k

Borrower has great credit and experience and is seeing how much leverage he can get. 

Post: Can't find Pre-Foreclosure Properties

Shafi NossPosted
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Quote from @Account Closed:
Quote from @Blake G.:

I am a wholesaler in Michigan and would like to start reaching out to potential sellers who are in the pre-foreclosure process. I can't seem to find any info to get a list of all of the pre-foreclosure properties (at least in kent county). I've reached out to banks, district courts and county to find where I could get a list. They all tell me to got to Legal News because all mortgage related things are posted by them. Issue is, all of Legal News' info is properties going into foreclosure and being sold in a 4-5 weeks at auction. I've done deed searches and look at different documents filed. Nothing gets posted in Notice of Default. Most things are posted under some sort of lien (Lien, Misc. Lien, State Tax Lien, Fed Tax Lien. Very rarely are there postings in Notice of Judgement of Foreclosure docs and Certificate of Forfeiture of Real Property. Lastly, majority of of liens are posted in Judgement Lien Documents(JLD). I have found the JLDs to be mostly from credit card companies and banks, but I am still unsure if that's what I am suppose to be looking for or not. I know I can still reach out to the foreclosure lists and I do. Just looking to get a head start I guess you could say. Any pointers on where to go or to look to find the list would be unbelievably appreciated. Thanks in advanced!

For foreclosures, you reverse engineer. You look for the trustee doing the foreclosure and call their office asking for their status website. If they don't maintain a website, you ask them how they update the public with foreclosure statuses. Our clients are very active in buying pre-foreclosures. There is a way for this to be done.

But, this is not the legal posting newspaper. That is something else. This is maintained by the specific attorney’s office for the specific foreclosures they are performing.

Although very profitable, Foreclosures are a poor choice for wholesaling, unless you have substantial capital. They are better suited for other exit strategies. You have limited time to complete the transaction before the sale. There is an "arrears" that has to be identified and paid out of pocket before the sale or the loan needs to be paid off in full.


What service do you offer?

Post: Investing in Toledo

Shafi NossPosted
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Not exactly an answer to your question but I randomly stumbled across a tired landlord who wants to sell his property off-market in Toledo, happy to share if you are interested. 

I have not run into this but I know some banks dislike having accounts that are for lending and your bank may be developing that distaste. It sounds like they are primarily concerned about AML though. Maybe you could ask them for clarification on how to comply and evaluate how effortful it would be vs. switching banks?