Cory M.
No W-2, Looking for Loan Options
21 December 2024 | 14 replies
You'd want to make sure you can sign out of the country through the embassy, as not all lenders/title companies allow this
Greg Weber
Has anyone done business with this company or person
19 December 2024 | 37 replies
I know this is hindsight but when ever you lend money you should get a Lenders title policy and give escrow instructions to the title company that your loan is to be in first position.
Yents Ybrimovic
203K loan new investor question
17 December 2024 | 16 replies
Structuring the Deal with a PartnerWhile your partner cannot directly participate in the loan, there are ways to structure your arrangement to reflect your 50/50 partnership:Option 1: Post-Purchase Equity SaleYou obtain the 203(k) loan in your name as the owner-occupant.After closing, you sell your partner 50% equity in the property via a quitclaim deed or similar legal instrument.Your partnership agreement would outline each person’s roles, responsibilities, and share of profits.Note: Be mindful of FHA’s rules around title changes and ensure this doesn’t violate loan terms.Option 2: Partnership Contribution AgreementYou both contribute to the down payment and renovation costs as outlined in a partnership agreement.Your partner’s contribution could be recognized as a share of the equity in exchange for funding, services, or property management.The partnership agreement would detail how profits, responsibilities, and equity are split.Option 3: Joint Venture AgreementStructure the deal as a joint venture, where you own the property personally (required for the FHA loan), but profits and roles are split per a formal agreement.Your partner could receive equity-like compensation through profit-sharing without being on the title.3.
Henry Clark
Belize Teak Plantation
4 January 2025 | 67 replies
Titles and land ownership can be shaky here.
Garrett Karnath
How to reduce prepaids/closing costs?
10 December 2024 | 5 replies
As mentioned seller credits are the best path as title insurance and taxes are pretty much fixed.
Richard Schubert
Stabilizing a “C” neighborhood SFR: Curious how long for others.
16 December 2024 | 4 replies
As the title says, curious how long others are seeing in their area to stabilize a SFR in a C neighborhood.
Virginia VanOeveren
As a PML, you should....
19 December 2024 | 9 replies
Also do not take documents off the internet, get an attorney to draft documents for you and also always close with a title company.
Bryce Adams
Howard County, Maryland Land Valuation
10 December 2024 | 4 replies
If you do a proper foreclosure and notify all parties a tax foreclosure can clear up an otherwise scrambled title.
Jonathan Warner
No finacing contingencies allowed?
13 December 2024 | 12 replies
If title is clean, a cash deal can close in 7-14 days.
April Smalls
Speaking To Wholesales That Work With Realtors
11 December 2024 | 2 replies
If this is how it works, do I ever go through the title company like I would in a normal wholesale transaction?