All Forum Posts by: Walt Middleton

Thanks Chris, that is a big help.  I will forward to my bank, but I sense that in the end this is more about what the bank is comfortable with than about what does the actual law say

I hope your correct John, problem is nobody at the bank or the title company seems to have encountered this before. There doesn't seem to be clarity on what Texas law requires. I'm thinking the cheapest way out of this may be to just by a last minute ticket for him to the US. For less then 1200 bucks the problem goes away. Just a question of time.

Thanks Fred, Unfortunately my partner is in Kenya, which does not operate under the apostille system. In addition the US embassy offers the services for notary but only by appointment. Sadly they are booked for a full month in advance and I'm not sure we can get in by just showing up. Wow, they say education is expensive no matter how you get it... we may in fact loose the deal over this quandary, but I have certainly learned a ton.

We are purchasing an apartment in San Antonio through an LLC. One of the LLC members is currently out of the country. The question is about the notary required for closing. It seems that some states require that if one of the loan guarantors is closing from outside the US that they must go to the US embassy to have a US registered notary affix their stamp to the document. On the other hand other states, like Florida, simply require that the notary be a legal entity within the country of signing. So my question is which kind of state is texas? I can't find any information on line. Thanks Walt

Thanks for the help you guys, I'll follow up

Excellent, I will give them a call.  Appreciate the reply

Hello Bigger pocket folks, We are closing on a multi family unit in San Antonio and need to find a good management firm to look after the property. Does anyone have experience in this market that could give us a recommendation? Any advice would be greatly appreciated. Thanks, Walt

Thanks Brian, How do I PM you? Here? or with your phone number?

Hi BP family, I'm new to BP but not new to MF ownership. My wife and I have owned a 4plex in Utah for over 8 years and are now looking to purchase another unit in San Antonio. Price of the property is close to 600K and we have 30-40% down payment in cash. The problem we have is we don't have a lot of income, we work for an international non profit, and are concerned we will not be able to qualify for FHA or commercial. Does anybody have a recommended way around this problem? The property itself cash flows very well and has current rent roles of over 5100 per month, which will more than cover the mortgage on 250-300k. We have additional savings of 150k set aside but our job income is shy of 40k a year. Any suggestions would be greatly appreciated

@Dan Burstain My wife and I are also looking in the N. Austin area for a 4plex.  Would love to connect with you and see what is available in this market.  Really appreciate any help you can offer