All Forum Posts by: Steven Goldman

If you are entering in to an assignment contract than you are not practicing real estate without a real estate license.  I really question whether the free state of Florida is going to prosecute anyone for selling a legitimate real estate contract that they have made legally assignable. Now, a civil suit from the owner for fraud that is always a possibility. So you better be careful what you say to the owner. 

see below:

Purchasers, Executors, Heirs and Assigns

For many years, it has been generally accepted in Florida law that a land sale contract can be assigned. Sometimes, this is easily determined because either the section for assignment is checked or the language of the contract identifies the buyer as the “purchaser and/or assigns” when describing the person who is buying the property. Either one of these options places a seller on notice that he or she may be seeing a different face at the closing table.

Other language that may be used in the sales contract: “heirs, executors, or assigns.” This language is also notice to the seller that the buyer may opt to assign the deal before it closes. (See – 123 So. 2d 267 – These words, heirs, executors, or assigns, do not require the seller to approve the assignment in order to make the assignment effective.)

I thought Florida men were against government regulations. Unless  it effects their wallet! Give me a break. You wholesalers, Good luck and keep moving forward. With all of the appreciation in Florida it should be fertile ground!

Good morning: You can not sell something you do not own. @Tom Gimer is spot on. Unless she was a joint tenant with right of survivorship or, their is a will leaving the property to her, there is no deal. Do not waste your money on paying an attorney to tell you that. Show me the will! Do not give her any money. Good luck and keep moving forward.

If you are an investor looking for rehab. money, purchase money, bridge loans or commercial loans we have conduits to banks, funding companies, HMLS and private lenders. We work in 26 states with a concentration in Ohio, Pennsylvania, Georgia and elsewhere. Call us for a free quote and a pre- qualification letter to allow you to make an offer. We answer calls quickly. Goldman Mortgage Lending LLC. See Steven Goldman or Eric Goldman's profile page. We look forward to talking to you.

Put a post in the classifieds here in Bigger Pockets! It is area specific. Good luck and keep moving forward.

Deals can be found in many ways. The first thing you need to do is master the art of conversation. The best deals are often found by going to meetings, or talking to your friends and service providers. If you are looking for a real estate deal you should tell everyone you come in contact with that you buy houses in any condition. You would be surprised what you learn. We have relationships with wholesalers, agents and the girl who works at our local beer distributorship. Seriously, create a good card and hand them out and engage everyone you meet. Good luck and keep moving forward. 

If you are an investor looking for rehab. money, purchase money, bridge loans or commercial loans we have conduits to banks, funding companies, HMLS and private lenders. We work in 26 states with a concentration in Ohio, Pennsylvania, Georgia and elsewhere. Call us for a free quote and a pre- qualification letter to allow you to make an offer. We answer calls quickly. Goldman Mortgage Lending LLC. See Steven Goldman or Eric Goldman's page. We look forward to talking to you.

Hi Henry,  I am a big fan of starting slowly and building momentum as you gain experience. You use a bridge loan to finance your projects. It will require an investment of between 15-20 percent of your purchase price. The funding will be 100 percent of the cost of the rehab. The rehab. should not exceed the purchase price, if it does it will limit your financing options. It will also expose you to more risk as a large rehab job is difficult to execute without previous experience. 

Attending real estate meetings will give you access to other investors, rehabbers, wholesalers and lenders. It is a activity that should pay by helping you to learn about your market and the business. Spend your time talking to people and telling them you are looking for rehab. properties. People are your best asset in locating rehab properties. Good luck and keep moving forward. 

Ditto Andrew Postell he is dead right on this one. I can only add that the rates are climbing precipitously so the sooner you begin and complete your construction the better off you will be. If you are thinking about flipping it you might want to use a rehab loan so that you do not risk all of your money in a unstable market. If you are flipping that is the best way to do it. if you are holding, you may find refinancing challenging if STR financing dries up due to the current banking environment. Good luck and keep moving forward

Welcome think of it this way. You buy a property for 100k. The rehab. is 50k. You now have 150k together with lending costs, closing costs and carrying charges in the property. Say 180k. The after repair value is 230k. you can now borrow in the range of 75 percent of the new value of the property. That is $172,500.00. That means you leave behind $7,500.00 together with the new lending costs behind in the property, and get all of your initial investment back out of the property to do another deal. Buy, rehab, rent, refinance, repeat. Good luck and keep moving forward!

Good Morning: First, Drew is suggesting that there may be no difference under the law where the property is located between a month to month or annual lease. Second, if you decide to refinance you will need a annual lease. Most banks and hard money lenders will not refinance your property if it is subject to a month to month.

Finally, turnover equals cost to repair so I would seek a long term tenant. Good luck and keep moving forward.