All Forum Posts by: Steve Diercks

Thank you everyone for the comments!  You have helped me start on the journey to get clear title and new financing.  Thank you

Quote from @Account Closed:

Quote from @Steve Diercks:

Hello! My mother-in-law passed away 8 years ago and left us (wife and her brother) a house at the beach.  She did not leave a will and my brother-in-law was named executor of her estate.  He has left the property in her name and paid the mortgage since she passed.  We are now all in the process of restoring/rehabbing the property with goal of renting as Airbnb.  We’d like to 

1) Move title to our joint LLC (Currently in deceased mother-in-laws name)

2) Refinance the house to recoup repair cost  

Is this the order we should proceed? Are there any legal issues we need to handle to make this move to our new family LLC? How can we line up financing (30 LTV) to pay-off small mortgage that currently exist. Looking for help on how to pull off this move legally and with lowest cost and complications?

Well, by now it should have gone through probate. The fact that the property is still in her name, leads me to believe there is unfinished legal business.

So, has it gone through probate, was a personal representative (executor) appointed by the probate court or did someone simlpy take over that responsibility? Was probate closed? Were her debts paid & taxes filed?

Yes it went through probate and her son (my brother in law) was executor.  He lives local to property and made decision to keep in her name due to his financial situation.  So what do u think is our go forward strategy?

Hello! My mother-in-law passed away 8 years ago and left us (wife and her brother) a house at the beach.  She did not leave a will and my brother-in-law was named executor of her estate.  He has left the property in her name and paid the mortgage since she passed.  We are now all in the process of restoring/rehabbing the property with goal of renting as Airbnb.  We’d like to 

1) Move title to our joint LLC (Currently in deceased mother-in-laws name)

2) Refinance the house to recoup repair cost  

Is this the order we should proceed? Are there any legal issues we need to handle to make this move to our new family LLC? How can we line up financing (30 LTV) to pay-off small mortgage that currently exist. Looking for help on how to pull off this move legally and with lowest cost and complications?

The owner of the house left when they received my notice a few weeks ago.  They have never communicated with me and now I see the have moved out.  They left what appears to be unwanted items.  Old bicycles, chairs, luggage etc... can I just have this hauled off to the dump?  I plan on having a locksmith come to house so I can gain entry to Change locks.  I’d like to get all the left behind trash and items removed ASAP.  Any advice?

What is cost of putting one if these in lot. The house and set-up? Say a 3/1 or 3/2?

I have a property with one house and 3.2 Acres that is comprised of 4 total lots. We bought this in 2008 because it is in area that should see growth when economy hears up. We bought anticipating selling as a viable commercial property. Current homes in area are older small homes or trailers. Nothing valued over 100k. We have 300k in property and still feel good about long term viability. We collect $600 a month in rent from one house. So my question; We realize that we are going to be holding this land for awhile. How do we best utilize the property to generate revenue? I talked with county and the land is not in an area that I can put trailers on lots and rent. This is against zone rules. Is there a cheap way to put rental houses up? Any other revenue generating ideas?