John Jordan
New home buying RE strategy (Oklahoma Area)
7 July 2023 | 3 replies
I know that Home Creations is building in Choctaw and I believe Rausch Coleman has a development in Harrah.
Brock W.
Phoenix - Sell SFR and cut losses or hold the property
6 September 2015 | 18 replies
The due on sale clause simply gives the lender the RIGHT to call the loan due upon transfer of title.The exceptions to calling the loan due in the Garn St Germain Act are below....See http://www.law.cornell.edu/uscode/text/12/1701j-3(d)Exemption of specified transfers or dispositions With respect to a real property loan secured by a lien on residential real property containing less than five dwelling units, including a lien on the stock allocated to a dwelling unit in a cooperative housing corporation, or on a residential manufactured home, a lender may not exercise its option pursuant to a due-on-sale clause upon—(1) the creation of a lien or other encumbrance subordinate to the lender’s security instrument which does not relate to a transfer of rights of occupancy in the property;(2) the creation of a purchase money security interest for household appliances;(3) a transfer by devise, descent, or operation of law on the death of a joint tenant or tenant by the entirety;(4) the granting of a leasehold interest of three years or less not containing an option to purchase;(5) a transfer to a relative resulting from the death of a borrower;(6) a transfer where the spouse or children of the borrower become an owner of the property;(7) a transfer resulting from a decree of a dissolution of marriage, legal separation agreement, or from an incidental property settlement agreement, by which the spouse of the borrower becomes an owner of the property;(8) a transfer into an inter vivos trust in which the borrower is and remains a beneficiary and which does not relate to a transfer of rights of occupancy in the property; or(9) any other transfer or disposition described in regulations prescribed by the FederalHome Loan Bank Board.
Nick J.
Whats Going to Happen While We're All Gone?
20 March 2012 | 25 replies
He is into a lot of different things, business creation and RE.
Gaired Jordan
Gaired's BiggerPockets Introduction
4 August 2021 | 2 replies
I currently offer floor plan creation services as well as budget analyses services for rental properties and house flipping.
Adil Sadik
Can you recommend a good online service to manage paperless doc?
29 July 2017 | 3 replies
In the future we'd like to have a feature to help you create a legal lease, and upload and store these files on Cozy, but right now we're not quite there yet.I can certainly help point you in the direction of some useful resources for lease creation though!
Shiloh Lundahl
Seller Financing in Burbank, CA and should I add central air?
11 May 2019 | 17 replies
The due-on clause is called an alienation clause, and the call is referred to as an acceleration of the note balance.The due-on clause is triggered by: any conveyance of ownership, including land sales contracts; origination (except home equity loans) or foreclosure of junior trust deeds on the property; or the creation of a lease for more than three years, or any lease with an option to buy. [12 Code of Federal Regulations §591.2(b)]The carryback AITD transaction, of course, involves both a sale (the grant deed) and a further encumbrance (the trust deed).Thus, an AITD transaction triggers the due-on clause in any underlying trust deed, allowing the lender to: call or recast the loan unless written consent to the sale has been given; or fail to act on the right to call after notice of the transaction, called a waiver.Thus, when current market interest rates are high and the AITD is most beneficial to both the buyer and the seller, a senior trust deed lender is likely to call the underlying loan due on the sale.
Hector Lewis
Property Management Company Referrals
27 August 2019 | 6 replies
There are platforms (one, in particular, I can think of) that will help you bring a certain level of automation to that rental management process (ie. automatically syndicating a single listing to 10+ major listing sites, thorough tenant screening with full background checks, digital lease creation, automated online rent collection, and maintenance tracking - all from within your account).
Brandon Washington
Any sites where tenants can pay rent online at their expense
6 December 2019 | 9 replies
There are a lot of great options out there; aside from providing the basics (ie. listing tool to get the property published to 10+ major sites, scheduling tool to schedule viewings, tenant screening with comprehensive applications which include nationwide criminal background checks + credit checks + eviction history, digital lease creation tool, rent collection tool, and maintenance tracking tool), some services also offer your tenants additional capabilities which makes it an easier sell on your end when getting them to transition over (ie. their ability to report on-time rent payments to the credit bureaus; this can create an added incentive for making sure they pay that rent on time).
Eric Levy
Trying to learn about MFR
16 July 2018 | 24 replies
My podcast, Pillars of Wealth Creation, recently covered a 16 week apartment investing series, where we covered syndication as well.
John J.
Excel Spreadsheet for Expenses & Tax Prep
13 November 2016 | 7 replies
Then, there's the profits (my favorite dream).I've been considering creating a server on my PC and use a database creation program on it to track income and expenses as well as maintaining a contacts & prospects database.