All Forum Posts by: Bac Nguyen

A lovely single family home with 4 bedrooms and 2 baths with 2,903 sqft. A large and open kitchen with cherry wood cabinets and black appliances. Nook area is large enough for a formal dining room set. Backyard included fire fit, barbecue and a swimming pool. No homes behind and view of the mountains. Situated on a premium oversize lot. Beautiful curve appeal. Buyers to verify all material facts and figures.

Seller Financing option available. Don't miss this great opportunity to own a home!

@ - Sounds like Donald J. Trump apply that principal to the T and likely built most or all of his towers/hotels.

@Kevin - thanks for the update.

Cheers,

Hi BPs,

I owned one rental property in AZ and need to file an eviction. Since this property is owned by and LLC registered in CA. The eviction attorney told me that I need to register as foreign entity in the state of AZ or I will not able to have the court order for the eviction.

Have anyone done this in AZ and don't mind to share the experiences and who you use for register agent and the cost? Also, it's better if I form a LLC in AZ? Cost vs benefits between LLC and foreign entity?

I am researching to learn more about this topic ...

Cheers,

Great job. But, if it's a rental why you went with high-end finished! Is the rent income increase compared to put you put it? 

Cheers,

@Stone Jin & Denny Robert & Kurt K - thanks for the info.

Cheers,

Hi BPs, I have a rental property in AZ and the tenant had been late paying for the last few months. So, I told them they need to pay on-time or risk to get evicted. Well, they have not pay September rent and don't return my call or text. So, I am heading down the eviction route.

I lived in CA and I have a LLC registered in CA which owned the AZ property. (1) I heard that you need to register as foreign entity in AZ. I just need to clarify/comply with the law (to CYA) before start the eviction process. (2) how long, if the tenant late, you have to wait before you can start the eviction process?

Anyone work/recommend an attorney for eviction in AZ?

Cheers,

@ - I am interest in your Excel spreadsheet as well. I will PM you. Thanks.

Cheers,

@ Gaurav Seth - I am a notes investor and specialized in 2nd NPN. Yes, I flip notes instead of flip houses :)

So, you need to decided whether you want to investing in 1st or 2nd lien. And performing or non-performing notes. As they are different in workout and exit strategies

Like any other profession, you need to know what you doing and notes investing is no different. The key in notes investing is "you make money on the buy". So, know the in-N-out of the due diligence process is the key and the must have skill/knowledge to be success.

There are quite a few web sites that you can check out - see below

https://www.pprnoteco.com/ - Dave Van Horn is the CEO and he's a regular contributor to BP and have a weekly article on the notes investing. Also, I believed they have a notes training course as well.

www.FCIExchange.com - you can register and buy notes from the website. However, their price tend to be on the high side.

Happy Notes Investing!

Cheers,

@ John Anderson - I have looked around three years ago and FCI (not perfect by any mean) is the only servicer has a web interface that allowing the lender and borrower login which is convenience for my borrower to check their account. 

Short story, I have one loan in North Carolina that I boarded with Full service and paid $95/month to FCI. Since you need a servicer license for NC. Well, after one year with no progress. I know ... there is NO incentive for FCI working any harder and create a workout. They get paid $95/month no matter what.

I have to step-in and create a workout with the HO myself. The funny thing is that HO has a 401K/IRA account that they need to borrow from. So, I asked FCI for a "hardship letter" to send to the 401K custodian. FCI said they don't have one. Are you F(**%%$ kidding me?

Anyway, I wrote one myself and sent to the HO. 

Yup, I am looking for a new servicer.

Cheers,