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7 February 2007 | 9 replies
.) -- including a lien on the stock of a cooperative housing corporation (a “co-op”) -- no lender can enforce its due-on-sale clause due to any of the following prevalent circumstances:(1) The creation of a lien (or other encumbrance subordinate to the lender's security instrument) that 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 would become owners of the property;(7) A transfer resulting from a decree of 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 of the borrower’s property into an inter vivos trust in which the borrower is and remains a beneficiary and which [trust agreement] 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 Federal Home Loan Bank Board.
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20 March 2007 | 1 reply
I would then immediately flip the property and pay off the note.PROS:- The note is an 80% loan-to-value- there is a 10% interest rate on the note- I have excellent credit- a sum of cash would be offered to the new owner of the note as an incentive- an early payoff penalty would be in place on the noteCONS:- there is no payment history since the note creation and trade will take place almost simultaneously- there was no down payment paid to the seller of the houseAre there any firms that would accept a note like this?
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29 December 2013 | 29 replies
But, since 100% of the guru type trusts out there have the authorization for the trustee to do what a trustee must do in the trust creation document, they can be required by anyone who is in any kind of transaction with the trustee.
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10 February 2014 | 6 replies
You should probably also get a good book on LLC creation, so that you can speak the language (NOLO).
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23 January 2014 | 5 replies
I was sitting here brainstorming ways to apply some of the outsourcing principles to my involvement as a new investor and thought I'd go public, since many minds are always better than one.So far I have a small list going, but would love to hear if you all have any other ways you have put either outsourcing, or any other 4HWW (muse creation, 80/20 rule, etc.) into your real estate businesses.Here's what I've come up with so far:Virtual Assistant (VA) tasks:screening MLS for potential dealsyellow letter campaignsGoogle Adwords tracking and implementationmanaging tenant screening process (background checks, tenant checks, etc.)tracking down absentee property ownersgenerating a list of every commercial building owner in your towncollection and aggregation of data in due diligence process for a commercial purchaseresearching cash buyers in targeted markets identifying common expense items in a new market (trash, electric, water, property tax rates, etc.)What else might make sense?
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17 June 2013 | 22 replies
Or are you merely saying that your own net worth creation will cross an inflection point once your bills are taken care of?
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29 June 2013 | 28 replies
Corey: I suggest you read "The creature from Jekyll Island" about the creation of the Fed.
2 July 2013 | 5 replies
Value creation is what translates to profit creation.
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9 July 2013 | 20 replies
Please take into consideration creation of an LLC ($500).2.
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8 July 2013 | 7 replies
I am have been really impressed with how willing everyone is to share info and help each other (Brandon-I love the video tutorial on the wix website creation).