All Forum Posts by: Tim C.

Does anyone have an example of a letter of intent where a commercial building is being condo'd into smaller sections? The buyer just wants to put an offer in on half of the building space. If you have any experience doing this or have an example of an LOI I would appreciate hearing about it. Thank you!

Welcome "@Rita Temple !  

I am a newbie investor from El Dorado Hills, CA, so not far from you.

There is a meetup on Tuesday Apr 7th in Roseville that I just saw get

posted on BP.  Check out http://rosevillemeetup.com for the details.

What type of investing are you interested in?  I have been looking at a lot

of duplexes in Citrus Heights.  Let's connect and you can tell me your investment

criteria so I can let you know if I find a property that matches what you are looking for.

Welcome to BP!

"@NA Beauvais, how did you solve the problem for the seller in this situation? I have a friend in a similar situation.

Thanks "@Martin Scherer and "@Ali Boone for the welcome message!  I agree with you Ali, getting out the Rat Race will be great when I get there. :-)

Thanks @Romel Aquino !

Thank  you @Antonio Coleman , @Chris Vail , @Ndy Onyido , @Account Closed !  I appreciate your messages!

Thank you @Joe Pickett !

Thank you Chris and Ndy!

Hello,

I am new to BP and this is my first question I am asking, so forgive me if this is the wrong forum.  This seemed to be the best one to post my question to.

My friend's parents have a house they bought with a VA loan in northern CA. Her parents moved out of the house but are renting it out currently. My friend wants to take over the property and make the payments without affecting the current financing and get her parents' names off of the loan so they can go get another VA loan to buy a residence to live in instead of renting a place like they are now.

One idea was to use a land trust to transfer the property over and have my friend act as the trustee. I have heard that banks usually will not call the due on sale clause with a land trust. But I am not familiar with VA loans and don't know if a land trust would be possible or if it solves the issue of getting her parents' names off of the loan to free them up to get another VA loan for their primary residence. Is this a valid approach?

Does anyone have any other suggestions/ideas for how to solve this problem for my friend?

Thank you in advance!

Tim

Hello BP Community!

My name is Tim Corboline and I am from El Dorado Hills, CA which is a little east of Sacramento. I have been interested in REI for a couple of years and have listened to a lot of BP podcasts as well as other podcasts out there. I have taken some Rich Dad training which in the end was not worth the money since I was able to get the same info free from podcasts. :-)

I have a full-time job currently in high-tech but am looking to get out of the rat-race and build a large cash-flowing portfolio over time.  Being realistic I know this will take time, but I want to start now despite not having the money to just go out and purchase something right now.  Getting to that point is in the plan though. :-)

I also am planning to get my Real Estate license in California and possibly my Broker's license also.  I think these can help me get to my goals more quickly in the commercial space.

I am looking forward to learning lots from this great community!

Thank you!

Tim Corboline