All Forum Posts by: RICARDO RUIZ

Yeah, I was just planning to just adding my name...So it would be all 3 of us on title. It is time to see a attorney. I am assuming a real estate attorney is that correct ?

Can someone give me information on a quit claim deed? I am paying off my older single brother's and mother's home because they technically will not qualify for a refinance with a lower interest rate loan. I will refinance my home and use that money to pay off their loan and then they will pay me back monthly. My plan is to have them sign a quit claim deed then the house will not be sold without me approving the sale. Any opinions? Suggestions ?

Rick

Excellent thread Rich ....I learn something new every time I come to Biggerpockets

Originally posted by Mr_Investor:

I'd get California under contract and flip it to Mexico for an assignment fee :mrgreen:

Nope Mexico has no money either...Now those drug lords in Mexico those guys have serious $ $ $ and muscle to go along withe the $ $ $

:wowo: :wowo: :wowo:

Originally posted by Joe Almirantearena:

It seems pretty obvious that the pres is interested in long term results, and is satisfied letting the economy struggle for now.

I'm by far no expert but from what I have been hearing ===> :goofy:

I've heard cigarettes as well.....Save cigarettes not to use but to trade. Smokers will do anything for a smoke... Anything that has value......Alcohol/Booze that's a item no one can ever do without.....

I think your correct...But then of course I'm no expert ..We are both in California so that may be the reason why others are disagreeing...California is in a recession with massive deficits and the government raised taxes which, in my opinion, means things will get worse before they get any better.

Originally posted by Heather Pelletier:

Not to mention my husband's overtime being cut for a few months. ( Thank god that is back)

Never depend on overtime to make the bills. Ive seen people fall into that trap and lose it all..

I live in So. California and was hoping to get a rental in my area by the end of the year but considering home prices and economy there is nothing that will make money. I am considering maybe out out state. I prefer to stay local since it will be my first rental but it looks futile. So the question is at what point does a newby start looking out of state ?

Not to mention that the Ca. governor says he will call back Sacramento legislators early to correct the 10-14 BILLION deficit. He wants to correct it by taxing services and increasing sales tax by another 1.25 % . If it goes through Los Angeles County will be at 10% sales tax. This at a time when Ca. economy is going down the hole. Maybe I'm just a pessimist but this can't be good for rental property...The "Go West Young Man" slogan isn't what it used to be..