All Forum Posts by: Troy Walcott

Thank you for the advise.

I have a tenant looking to do a lease option in the same house he is currently renting.  How do I get started with that?  Is it simply just the contract?  Do I have to wait for the current lease to be up?

I have a cashflowing investmenmt property with equity that can be taken out.  I want to use that equity to purchase another investment property.  The problem is my credit won't allow me to take the property out of the company's name and put it into mine to do a cash out refinance.  Is their a way I can use an equity line of credit or a 1031 exchange to make the purchase on the new investment property?  Side note: is the rule that you have to take the property out of your businesses name and put it into yours for 6 months to do a refinance for real?  If so it's stupid.  My property has had a positive cashflow for years why should I have to keep it in my name for 6 months to put it right back into the same business it came from?  SMH.

All the companies seem to say the same thing. It seems like the only difference may be with the fees associated with closing. 

Thanks for the advise. I have done some of what was suggested already. I was narrowing down and loan depot is on the list. That 6 month seasoning came up recently. If my rental is currently in an LLC does that mean I have to take it out for 6 months before I can refinance?

I am looking to do a cash out refinance of my single family residential investment property.  Can anyone suggest a good company or are the big box, Quicken, Lending Tree, be my best option?

Thanks @ Chris.  How can I reach them?  @Wayne Brooks Highland County.

Can anyone recommend an attorney that specializes in foreclosures of delinquent mortgage notes in Florida?

Helpful yes thank you.  I didn't think of that approach.  I have attorneys I am hiring now to try to start a foreclosure.  They will do it but explaining it is another thing.  Where did they learn the steps?  I would love to get a book.  Even if I sit with them I wouldn't know what questions to ask.  You don' know what you don't know.

I want to know all the steps involved to foreclose on a property.  Hopefully with time frames for each step.  For instance 1. first you file the law suit, 2. you publish public notice.  I'm trying to look for detail so I know how to follow the process and make sure the attorney I hire is doing things correctly.  I was told the filing of the law suit was the first step then I found out a demand letter needed to be sent.  I need to know every step not taking for granted that everyone knows of course "that" has to be done first.