All Forum Posts by: Will Stahl

Quitclaim*

@Christian Becker @Scott Smith

I have a similar question. If I purchase a house using a traditional mortgage am I still able to quite claim deed the property into an LLC? If so, would it still provide the same protection given that I purchased the house personally instead of the LLC and the mortgage is still in my name? I want to do this but am concerned that if a lawsuit ever happens that they'd still be able to find a way to my partners and my personal assets.

Secondly, I believe this would trigger the 'due on sales clause' in my mortgage. I've been told that it's something I shouldn't get too caught up on. Curious of others opinion on this.

@Wayne Brooks Thanks for the response. I reached out to my lawyer this morning and told him what I needed.

Happy New Year everyone! I'm thankful to say that all of the great information that this site has provided me with is paying off. I am finally in talks to buy my first rental property! Through a cold calling campaign I've found someone who is looking to sell a property at a good price. We're currently hashing out some minor terms but it seems like were both on the same page. Neither of us are using a realtor, and with this being my first purchase I'm coming here for some guidance about how to should go about this and what to expect. It might be worth noting that I'm already pre-approved for the purchase amount. Feel free to chime in with any input but I do have some specific question in mind that I would like answered. 

• Is my first step to go to my real estate lawyer and tell him the price and terms I'm looking to buy the property for?

• I've been speaking with a mortgage broker. At what point will I want to tell him that I have house I need funding for. I'm guessing this will be after my lawyer contacts the sellers lawyer and both parties agree on the price and terms?

• Do people ever provide their lawyer with they contract want to use? Or do they just inform the lawyer of the contingency clauses they want along with other vital information (such as closing date, price, ect) 

• How much do you normally pay for a lawyer when buying a house?

• What are some notable things I might be over looking that I need to consider?

Any and all input is greatly appreciated. Thank you in advance.

- Will

Hi Everyone,

I'm going through the county records and am looking at houses with federal tax liens. I noticed on the documents that there is a column which says "Last Day for Refiling" and it's 10 years from now. At what point do you typically mail to federal tax liens? I planned on sending 1 postcard a month for 5 months starting from when the lien is first announced online. Now I'm wondering if I should be marketing to houses that received the lien 9 1/2 years ago. Thanks

Thanks all for the information. I am going to test out a few key terms in the search bar as well as spread my add across multiple sites. I'll keep an eye out to see if the ads get taken down for any reason.

Hey everyone,

For those of you who post 'We Buy Houses' ads on craigslist, I'm curious which sections you post in. I'm posting mine under the section and subsection: 'Housing' -> 'Real Estate Wanted'. However, I'm not sure if the people we are trying to target will navigate to this section. I'm wondering if anyone does this strategy and can offer some insight into what sections/categories of craigslist are producing the highest response rate for these type of posts.

Thanks everyone!

Does anyone use a specific type of letter when mailing to trusts?

@Major Robertson @Chris Gravitt How much would you this could/would cost to out source?

@Robert Bradley I'd really like to know this as well. LSF9 MASTER PARTICIPATION TRUST owns a few properties near me and would like to know their intentions.