All Forum Posts by: Susan Capeta

shes not in foreclosure now.. she has just missed a trial loan mod... so we have to get her payment in before they consider forecloser..

also what is subj 2 involved.. i called this title company that does subject 2 and they wanted $3k to do the title insurance and everything... $3k is verry high...

what exactly do i have to do for subject 2s? 

I called the city of Los Angeles and they said there is nothing for auction in LA county anymore. They said they had their last one in October and they only had it a few times a year. They said they have another one next year but they dont know when yet and probably  be in Septebmer 2016 or October 2016. 

Does this seem right? they only do auction once a yearr? I'm just trying to buy a house at a good deal.. how come i have to wait an entire year for another auction?

There are many city in LA county, is the auction city base or county base? Is there an auction at every city or every county.. should i call every city and ask them if they have another auction coming up?

What will the title report tell me? (if there is a silent second or not?)

Does the owner want to stay in the property?The house is a rental... someone is getting evicted.

Is she ready to sell? Yes, but there is also another guy who may offer her more money. she is sure he wants to buy but he wants to get an appraisal first.

What does it cost to reinstate? the monthly payment of $1500 a month

How much does she owe v. the value of the property? $300 owed value after it is fixed $400

What are the other debts against the property and the owner? Just the $300 

I was thinking of recording the option on the deed. I guess I would have to help her make the payments on her house. She is on a trail loan mod now but she failed to keep it. 

I don't want to do subject to because the bank can all the loan due. I'm thinking an option that's recorded on the deed would work. 

What do you guys think?

What kind of banks/lenders.. could you send me a private message with your phone number so i can call you thanks

I've been looking at mls for houses to flip, but in los angeles there isn't a lot of deals. I want to go directly to the court house for auctions. Anyone know when the next one is and how the process works? 

Can I get good deals still at these auction and are the auctions not on the MLS?

I do not qualify for financing because the bank says my debt to income ratio is too low. I have a lot of equity in one of my house and I want to do a HELOC but when they look at my last 2 years tax return they said i dont have enough Debt to income to get the heloc.

I heard some poeple use hard money to buy rental , than get it rented and find a bank to replace the hard money. How exactly is this done? If i get a hard money lender to get the house, the hard moeny looks at the house they approve. How do i get the bank to cash out the hard money once i get the renter in.. if they look at the last 2 years tax return they will not be able to cash the hard money lender out right? 

I have a house now that is very behind on payments. I want to give the owner some money and fix it up than sell the house. I think the best way to go about doing this is to give her like $5k and get a contract with an option to buy. Maybe a 5 year option so i have enough time in case something happens. I also want to record the option so she doesnt sell the house to someone else and the money I put into fixing the house is safe. 

I'm in california. 

What forms do I need her to fill out and what do i record. Do i need an escrow company. How do i do this correctly to protect the $5k i am giving her and the $30k i am putting to fix this house to sellable condition

i'm in california.. im going to a probate auction to buy a house. 2 of the house is in substandard condition here is one http://tinyurl.com/pzvbha9

1. what are the steps to make it livable condition?

2. does it take a lot of work to get the city to approve it?

3. do i have to tear it down and build new?

4. what are the exact steps to make this livable again? 

5. what does substandard mean when they say it.. does it mean the city says it is substandard? 

nice.. how do you prove you live in the house.. the ultity bill is in my name

 but i send other bills to my office..?