All Forum Posts by: Travis Moore

I did work with SREC a few years back if you are still interested in any feedback. 

Hey All,

I have a property in NorCal. The current owner was deeded a property via an uninsured deed. So therefore no title company would want to insure this transaction as the former grantor can no longer be found and uninsured means potential fraud to the title company.

Are there any creative options aside from a lengthy quiet title action?

I just spoke with a homeowner interested in selling. He said that he recently went through a BK which wiped everything except the mortgage on his house. He indicated that he is not allowed to sell the house or more likely payoff the mortgage for 2 years post BK. 

Has anyone heard of such a limitation on selling a house post BK. 

So....

I have this property in Texas that is owned free and clear currently being rented by a contractor who has done some work for us. 

There is much disagreement about late payments and work they claim they have done to the house, etc. They want to buy it from me for $60k if they can get financed....A disaster story for another forum. 

Anyway the house is in great shape and worth $120k. I just want out of this property altogether and/or if I can pull $60k out of this I would be fine. 

So how can I do this given their credit/finances are a mess and could take some time to fix, if they ever do. 

1. Find some type of private lender willing to do a flexible no doc loan at 50% ltv for them. 

cons - Given they are a consumer without adequate ability to repay it could be tough

2. Refinance out $60k and sell it to them on either a land contract or wrap

cons - land contracts are no no's in texas. Wraps have pitfalls especially ones originated so quickly?

3. Refinance out $60k and just keep them in as renters telling them they are free to purchase anytime for $60k or until I figure out something else. 

not a bad option.

Are there any no doc, asset only 50% ltvs for investor owned properties? I don't want to go the conventional route.

Wondering if anyone has come across an efficient strategy for tax free gains through the homeowners cap gains exemption. 

Example. Find a piece of land with a small house or garage apartment on it. Ideally purchase on terms with some decent principle paydown monthly. Live in it while planning and timing the build of a new home for a closing just pass the 2 year mark.

Basically finding something you can occupy as principle residence and develop without living in a construction zone.

Probably a broad question. The idea seems simple but doing it efficiently while minimizing risk and maximizing gains would take a clear strategy as with most investing.  

Are there any REIT's or interest rate related options that you could go short on? A sort of insurance against a decline in the residential real estate market

Is there any concern about Title 2 regulations when soliciting investment money from someone who is not an "accredited investor"? I know when looking for private money you should aways avoid asking people if they want to "earn X% a year" but any concern with a Title 2 situation?

I am looking for a RMLO  in the Houston area to help me put some owner finance deals together. Spanish speaking preferred.