All Forum Posts by: Yuri Chernousko

I am looking for a knowledgeable RE attorney who can be relied on.  I am in Monterey / Santa Cruz area.  Please write here if you can refer me to one.

Thank you.

Yuri

Hello.  I am looking for a realtor who would agree to assist with a sale of a 3/2 property for a flat fee in Monterey of Santa Cruz areas.  Possibly someone based in Santa Clara County, too.  If someone has a recommendation, I will appreciate an introduction.

Thank you.
Yuri

Hello. My similar post on another forum did not generate any responses, so putting it here too.

I am dealing with a rehabbing company that I consider lending to. They seem to be legit. I bought a property with their assistance (they matched me with a local seller). I am considering funding a purchase and rehab of 3 small properties with them. I provide 80% of the purchase and repairs cost. They - the other 20%, all BPOs, inspections and title costs. We go through an escrow company of their choice, and I am on the first position on the deed. The title company will provide all insurances and lender policies for review. The note that I get from the rehabbing partner will show the repayment terms of the principal + the monthly payments for the funds I lend. The rehabber is incorporated locally near the location of the properties. I met the principal, he also checks out online.

I have not done this before. Those of you who have experience lending to a rehabber, can you tell me what I should pay attention to and what to expect?

Anything will be interesting to hear. Specifically, these things:

- Their incorporation is form 2 weeks ago. But they have other entities going. Shall I think why this is so?

- Anything I should pay attention to in the note they provide?

- Anythign I should pay attention to in the paperwork that comes form the title co.? Lender's policy?
- What document will ensure my first and only position of my mortgage to this deal?

- Will the promissory note from the rehabber be recorded by the title company?

- Where will the 20% of the rehabber's contribution be recorded?

- At what point do I transfer the funds?

- Anythign else?

Thank you.

Yuri

Hello.  I am dealing with a rehabbing company that I consider lending to.  They seem to be legit.  I bought a property with their assistance (they matched me with a local seller). I am considering funding a purchase and rehab of 3 small properties with them.  I provide 80% of the purchase and repairs cost.  They - the other 20%, all BPOs, inspections and title costs.  We go through an escrow company of their choice, and I am on the first position on the deed.  The title company will provide all insurances and lender policies for review.  The note that I get from the rehabbing partner will show the repayment terms of the principal + the monthly payments for the funds I lend.  The rehabber is incorporated locally near the location of the properties.  I met the principal, he also checks out online.  

I have not done this before.  Those of you who have experience lending to a rehabber, can you tell me what I should pay attention to and what to expect?

Anything will be interesting to hear.  Specifically, these things:

- Their incorporation is form 2 weeks ago.  But they have other entities going.  Shall I think why this is so?

- Anything I should pay attention to in the note they provide?

- Anythign I should pay attention to in the paperwork that comes form the title co.?  Lender's policy?  
- What document will ensure my first and only position of my mortgage to this deal?

- Where will the 20% of the rehabber's contribution be recorded?

- At what point do I transfer the funds?

- Anythign else?

Thank you.

Yuri

I am interested in talking to someone who bought into FB's system, paid for the membership and started his/her business based on that.  i attended the seminar, and they do present a great great front.  I feel as though I could benefit form someone who is more familiar with them.  Looking for someone who can make a meaningful statement here, or better yet who can spare 15 minutes on the phone with me and talk about FB.

Thank you,
Yuri

I want to ask advice on the setup that will be best for me: 5 rentals (1 in California and the rest in Florida).  What would make the most sense?  Several LLCs in an S-corporation for asset protection?  And a combination of a w2 salary to myself + K1 distributions for the rest?  Is there a way to reduce the taxes by using self-directed accounts?

Advice form experts will be appreciated.  Or maybe there are existing articles on the subject?

Thank you.

Yuri

I am researching new areas for my next investment.  I am interested in connecting with rehabbers in TX and NM.  If you are one in Dallas or can recommend someone reliable, please write here or directly to my profile.

Thank you.

Yuri

Thank you, I will call Gene.

I am looking for a property manager for a condo in a decent area in Jacksonville.  Besides what I see on the web, I will be interested in direct referrals from this community.  Please let me know if you have good experiences with anyone in the area.

Thank you.

Yuri