Back in 2018, we encountered one of the most unusual title challenges we’ve ever faced while working on a multifamily wholesale deal.

Who will be on title?

HelloWe recently purchased a property through 1031 Exchange and the title is with our Revocable Trust (Trustee my wife and I).

Quentin, build your knowledge, make sure all this is done correctly.Banks rarely call the loan just because of the deed being transferred, something else triggers this, mostly because the investor decides education is not worth the money.It can be because the Insurance was not done correctly, the seller does not understand the process, the Title Company does not know what to do so they call the Bank and make a mess out of the process and a few other factors,If the investor is knowledgeable on what to say to the Bank if they call this is a fairly simple conversation to have.

SDIRAs where you go through the custodian for all transactions and they're on title to all assets FBO your IRA.

I would like to start connecting with lenders, attorneys, realtors, title companies, and all other professional in the SATX commercial real estate market.  

But after working with the family, we purchased it for $42,000 and got to work.We had some unique challenges, like dealing with one of the heirs who wasn’t very cooperative and required a payoff to sign the paperwork we needed for clear title.

If so how would that work with the title?

I can send you a free guest pass to our general meeting next week and you can network with a couple hundred local investors and meet all kinds of vendors with hard money, private money, trades, title and wholesalers.

And yes, you are still responsible for wiring earnest money to the closing attorney/title company when you put the property under contract.