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15 January 2025 | 8 replies
Regarding the HELOC question, consider the interest rate on the debt.
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2 February 2025 | 9 replies
From a legal standpoint, sure, it's not much different other than the paperwork and govt red tape.
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19 January 2025 | 269 replies
It is legal and very lucrative in some parts of the US.
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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.
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15 January 2025 | 8 replies
If you are a legal property manager in your state the owner should have the unfettered ability to allow you to act as his/her agent to enforce the lease, whatever provisions they may contain plus whatever your state laws allow.
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8 February 2025 | 42 replies
Even though The Hideout HOA lost their legal battle opposing STR, there is still fallout.
7 February 2025 | 5 replies
As for soft costs, you’re looking at a fair amount for a condo conversion-there are legal docs to have drawn up, reviews, surveys, recordings, setting up the HOA, reserve studies etc.
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14 January 2025 | 4 replies
This doesn't replace the need for a MSA that will capture additional clauses needed on a Contractor-SubContractor relationship, this is just a project specific form you would use in addition to the MSA (prepared by your Attorney):This template is for informational purposes only and does not constitute legal advice.
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9 January 2025 | 12 replies
Quote from @Alec Barnes: Quote from @Drew Sygit: @Alec Barnes we use Debt-To-Income Ratio (DTI) instead of income = 3x rent.Reason?
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11 January 2025 | 4 replies
Let’s break this down because there’s a lot to unpack here.The real question is, how well is that debt working for you?