All Forum Posts by: Joe Shively

Looks great!!

I think this is a great idea! It is so hard to connect with real hard money lenders today! I hope this will help people make connections and make some more deals happen! Thanks!

A problem that I could see that has nothing to do with the FHA rules is what if the borrow qualifies for the mortgage today but in 3 months they can no longer obtain a mortgage. What do you do with your new tenants then?

Just the first thing that came to my mind!

It is a commercial building for my construction company! My commercial small business lender is the one that actually asked me if I could convince the seller to do the second. The bank just needs to see a sales agreement with the seller offering the second for 20%.

Can I draw up the promissory note, mortgage for the second and sales agreement myself and submit it to the bank, then get the attorney involved just for the closing?

I'm buying a property that the seller is carrying the 20% down. I was wondering how that works and what forms I need to use? Is this just a simple promissory note? What other paperwork is involved and how do they get there name listed on the deed in the second position under the bank? Also do I need a real estate attorney to do the closing or should I do it at a title company?

Sorry for so many questions just trying to get it all figured out!

I wish I could just draw a picture on paper let alone do it on an etch a sketch!!!

Hello Ryan, I'm also from Pittsburgh. I own an construction company and could help you out with any type of work your looking to get done. I also have a few rental properties and always looking for more! Add me as a friend if you want to so we can keep in touch!

PA has NOT set up the registration process yet for contractors. They have only posted the new rules that will go into effect for the July 1st 2009 date.

Here is the site that outlines all the new rules and laws.
http://www.pacontractorslicense.com

I was looking at the terms and conditions section for sheriff's sales. My question is when they ask for a 10% deposit in the form of cashiers check or certified funds how do you do this? How do you know the amount of the cashiers check to get from the bank and take with you since you have no idea what price you will get the house or houses for?

I think it's worth it and would go for it if I was you. Also selling or helping a few people a buy a houses is a great way to make part time income!!