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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.
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17 January 2025 | 3 replies
It's really important that you work with an experienced loan officer or broker, especially on a time sensitive purchase transaction.
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31 January 2025 | 7 replies
Business / Investment property.
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23 January 2025 | 26 replies
Your success in this space will also translate to different type of business relationships.
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26 January 2025 | 10 replies
@Enrique Toledo-Perez As a realtor are you not allowed to open a wholesaling business?
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25 January 2025 | 10 replies
The nice thing about the arbitrage business model, is the companies usually pay you a monthly rent, and then they handle all of the AirBNB stuff.
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20 January 2025 | 19 replies
--------------------------------------I don't think it prevents you as an owner from initiating the action.Personally, I wouldn't have any moratoriums on private transactions.
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23 January 2025 | 15 replies
I typically don't comment on other's businesses unless I know from personal experience.
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31 January 2025 | 27 replies
No, it's not a normal business practice and does not pass the smell test.From driving?
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17 January 2025 | 37 replies
And real lenders don’t troll for business by texting.