All Forum Posts by: Stephen Lofthus

@Lisa Kohl thanks for the response!

@Richard Bradshaw one of the issues for me is that my farming areas are some of the nicer areas of Indiana. It would be alot of driving to locate these properties but I'll let the wheels burn off..

@Jay Orlauski that's great advice. Have you seen title companies pretty receptive to this tactic? Please PM me when you find out nore about what they will do! Also, do you just call the title companies up and ask for lists? Who is your point of contact? Thats awesome..

Thanks all

I hear investors say that they get "a list" of vacant homeowners and send mailers out to them. Where do they get such lists?? Thanks in advance Stephen

Found an opportunity that is in a good neighborhood but there is a highway behind it..otherwise running the numbers for a fix and flip(so far) looks like a good opportunity. Have not ran comps yet, property is in good condition, needs upgrades, but looks decent otherwise. Has anyone had issues reselling retail if a highway is behind?

Thanks in advance!

Stephen

If you are off the title, your fiance will own that home outright and that asset will also not be in your name. You can still have that asset in your name and not be on the loan. This will give you advantages when/if you want to refi out of that loan or get a HELOC, you have the right to use the equity.

In those situations its best to talk to your fiance, and in my experience its better to be on the title if you are paying some/all/a little of the mortgage, taxes, doing work on the property etc..just to protect yourself if anything (god forbid) goes wrong with the relationship.

When you are ready to purchase another property and you are able to purchase on your own, you still will not be on this loan, just on title. Moving into a home with ANYONE and you are paying for anything associated with the property, in a relationship (especially fiance) I would get on title.

This would not effect you purchasing another home as far as DTI is concerned in the future, only secure that asset in your name as well as your husbands/fiance.

@Don Harris Thanks! I will reach out to you.

@Account Closed Thanks for the response! I will reach out.

Does anyone have any recommendations for a Hard Money Lender in Indianapolis or Indiana area?

Thanks!!

I am building business credit and I got a phone call from a rep from D&B telling me that I need to pay $499 to finish my profile with them..I already have a D&B #, so why do I have to pay to complete a profile? Has anyone had to do this?

Originally posted by @Jeff Copeland:

The seller generally isn't "obligated" to accept anything. They can raise/lower the price, re-list it and wait for more offers, accept yours, or counter. Sometimes banks have specific guidelines and a step by step process they follow in cases like this.

Bottom line, the ball is in their court - give them your highest and best offer. If they get a higher offer, it's shouldn't be an issue because you weren't willing to pay more anyway.

If they accept a higher offer and you're kicking yourself for not offering more, then it wasn't your highest and best in the first place.

What a great quote

I have found other posts to answer my questions

Has anyone used this site to purchase property? What was your experience and did you use a broker?