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.
Patrick Braswell
Home Equity Loan vs. Refi on rental without existing mortgage?
19 January 2025 | 5 replies
If your broker does not have access to lenders that are fine with SCorp, reach out to me, i have a few that have no issues with this.
Don Konipol
A Tax Lien Warning Story
21 January 2025 | 6 replies
I did go look at it, knew it was accessible by dirt road, and did a lot of research into who owned the easement.Won the auction, paid a tax title company to get clear title (right of redemption is 3 years).
Victor N.
Tenant Refusing To Turn on Heat In Winter In Order To Save
18 January 2025 | 36 replies
Where she has access to it?
Roman Stefaniw
Arms length Mortgages/Private Lending
14 January 2025 | 15 replies
The borrower gets the benefit of having access to capital fast and the lender gets the benefit of charging a higher interest rate and not having to pay taxes on the profit.
Karen Margrave
REDDING, CA INVESTORS
24 January 2025 | 37 replies
I purchased a home near Bethels new campus with a large lot and a portion of the lot is an access easement for another vacant property.
Sean Gallagher
Scaling out of state while busy working my W-2
12 January 2025 | 23 replies
Quote from @Zach Howard: Quote from @V.G Jason: Quote from @Zach Howard: @V.G JasonTo someone just starting out (only option of OOS) who can get access to 200k, but no additional financing at this time but an additional 50-100k max in reserve cash, where might you recommend they start - markets/property type/strategy?
Sergio N Brand
What are you investing in? Middletown, NY
14 January 2025 | 2 replies
My 2 cents is prices are crazy inflated right now, but believe it or not I think it will continue because of continued demand pressure for the area from people fleeing higher cost of living areas and moving there, with access to 87/17.
James Syed
5 Day Notice Illinois
5 January 2025 | 18 replies
(**Do Not Accept part of the rent other wise you have to go back to start all over)Ten Day Notice of Eviction The Ten Day Notice is used if the landlord needs to evict the tenant for violating the terms of the lease, such as unauthorized pets, illegal activity, etc.
Henry Lazerow
Two warnings for the Chicago market! Section 8 lawsuits and fake tenants ID's
22 January 2025 | 12 replies
You can access that article here https://naahq.org/application-fraud-search-silver-bulletsRegarding Chicago and Section 8, YIKES!