All Forum Posts by: Richard Dunlop

The most important rule of investing/ wealth building is:

 "Don't spend the principle."

Rob says it right

You can still buy houses in this area for 15% of ARV! Whatever type of investing you want to do there is a profit to be made. Metro Detroit has problems yes. Metro Detroit also has SFH's that would sell for $10,000,000.00 in today's down market.

The example I've posted on here is I bought a foreclosure house for $806 all in. 

It had and still has an almost 4 year tenant that pays $650 a month and pays all her own utilities. I've owned it in my Roth 401k for 5 months and not yet spent $1 on repairs.

I've now twice provided proof of this house by PM but the scorners have not yet acknowledged it.   

@Rob Anderson

EDIT to add I tried to UNDERLINE BOLD AND Italicize the line above but since it still does not stand out enough I repeat it here "Metro Detroit has problems yes" 

Is there any market for my 4 unused Key words? 

Not a lawyer but I do play one in my REI hobby

Second gets no credit to bid on first but has a right

 to redeem First to protect Second's interest.

Within limits

Interesting scenario Could the second have any right to

buy the First position at the Short sale price?

Very True. 

Indianapolis if I spelled it right

Do you have anything Recorded that shows transfer of ownership?

Do you have anything Notarized that shows transfer of ownership?

Do you have anything Written and Witnessed that shows transfer of ownership?

Did you or new owner file a Property Transfer Affidavit?

Was it a sale?

Is it in Detroit?

Am I allowed to post the Link to @Rob Beland 's Mary Kay website here?

@Brandon Turner

I'm not sure I'd apply for a new job by telling

new potential employers that I was applying

while on work time of my current job 

I don't know the laws or processes.  I've offered I've not purchased any. 

Most short sale situations require some sort of proof by the seller of reduced value of the property perhaps by affidavit. The seller cannot benefit in anyway!

I've seen some where the buyer becomes a party to this reduced valuation and could be accused of participating in the fraud if trying to aid the buyer in establishing a false value.