Ken M.
Creative Financing and Some Things To Know
13 January 2025 | 1 reply
My humble advice to anyone attempting to do creative finance is:Creative finance is for experienced investors who have access to capital if anything goes wrong.Learn the lawsDon't use a contract "off the internet", laws vary by state and are also regulated on a federal levelLearn the financing techniques correctlyDon’t skip parts of the processDon’t ever do a “kitchen table” closingUse the proper deedAn attorney can help you with the legal work, but the rest you are on your ownYour guru will not bail you out“Investing” in someone else’s deal by providing a small 2nd loan so the “investor” can pay for “cash to the seller” and for “closing costs” so he can do the deal is a very bad planKnow what problems can ariseLearn the responses and solutions to problems before they are neededKnow everything there is to know about Title and what that meansKnow who a "protected class" individual isLearn the "back doors"Learn human natureUnderstand timelinesUnderstand regulation enforcement (some of these "mistakes" have a 10 year statue of limitations ( they can charge you 10 years AFTER you do the transaction) and carry hefty fines and possible imprisonmentThe court doesn't accept "I didn't know" for an answer"Know that the source of the lead plays a serious role in some states and federallyKnow how much of a "profit" pushes the boundaries to invite an investigationYou can be sued by the seller if you don’t do things correctlyYou are automatically at fault if an investigator or attorney or regulator gets involved.
Julie Muse
Team Effort Pays Off: Stunning 14th St Flip Success in Fond du Lac!
3 January 2025 | 1 reply
This successful flip showcased the power of strategic upgrades and partnership, resulting in a solid return on investment.
Tina Artigliere
Quest Trust Suddenly Closed down Administration on their Solo 401K Plans
17 January 2025 | 24 replies
I don't know what the issue is/was, but I think a lot of customers want to play games and he probably did his best to keep them on the straight and narrow.
Spencer Cornelia
$50k Loss on First Two Flips | Out of State Investing Gone Wrong
19 January 2025 | 9 replies
The losses would have spiraled out of control for me had I not been able to sell my second house immediately.I don't look back on my experience with any regrets since I know the risks we take playing this game.
Monty Alston
Need creative advice to pull equity out of my home ?
18 January 2025 | 15 replies
I highly recommend you play with that tool to start getting an understanding of what things you can do to positively affect your credit!
Scott Schnabel
New Regulations in the City of Cleveland
3 January 2025 | 18 replies
City's with radical liberals in power like to throw unenforceable laws on the books.
Derek Stevens
Valuation of unconventional and profitable STR property
26 December 2024 | 18 replies
By improvements I mean that there is power, water and sewer/septic installed and working.
Jorge Abreu
📅 Critical Dates: Timing is Everything
6 January 2025 | 2 replies
Every task must be completed diligently and on time.If you wing it, you're gonna miss something, you're gonna mess something up.So, be proactive, stay organized, and keep your power team aligned to ensure a successful closing.
Scott Weston
Highlands Cashiers Market
8 January 2025 | 10 replies
Yea this is a long-term personal play more than a strict STR deal.
Allen Berrebbi
Former visitor looking to invest in Peoria IL
6 January 2025 | 7 replies
So I used to work for a basketball tournament that played in Washington IL every year and so I often visited that town plus Peoria.