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28 June 2020 | 23 replies
Biggest issue with town ordinances is getting past the education/language barrier, the modular home builder that I am working with to design a 6 duplex multi-family project has connections with the state government here in Texas and can push through any obstinate local official that does not understand that Modular is valid, if you're looking modular finding somebody that can help with this seems useful.Biggest issue with banks for me so far is the education, which I've been able to push through for most banks I've talked to as I hunt for a good financing deal, as well as the draw schedule, which i am trying to design to be most beneficial for me with minimum days of loan.
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24 June 2020 | 4 replies
I am hopeful to speak in further detail and discuss the validity of this approach.Thank you!
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28 June 2020 | 13 replies
They are selling their house and a lot of Money used to sell the house, so it would not reflect their accounts as valid.
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22 June 2020 | 9 replies
They did however buy a warranty that covers all major appliances for one year.
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1 August 2020 | 2 replies
Well, kinda late for it, but I'd take a look inside while you can work on it since moisture invasion should be repaired as soon as possible.In general, foreclosures are pretty much "as-is where-is" so read your sales agreement to see if you have any recourse.Don't know about TX, but in OR when you buy foreclosure, you get a Special Warranty Deed.
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25 June 2020 | 9 replies
Don't do any combination of these things when doing Subject Tos: 1. don't do a "kitchen" table closing 2. don't use a Quit Claim deed 3. don't ask the bank for permission 4. don't do one without a title report 5. don't write up the paperwork yourself 6. don't do one unless everybody who has an interest in the property is on board 7. don't ever miss a payment 8. don't do one if the property is in bankruptcy 9. don't do one if you don't know what you're going to do with the property 10. don't do it in a trust 11. don't try to hide what you're doing 12. don't buy unless you know all of the numbers 13. don't buy unless you have a solution for the "Due on Sale" clause 14. don't do one if the loan is underwater 15. don't do one if it's with a "vulnerable" group (elderly, handicapped, minority, etc) 16. don't do one if it's still in probate 17. don't do one if it's a reverse mortgage 18. don't one one if it's a FHA loan (unless you really, really know what you're doing) 19. don't do one if the seller wants to buy a house in the future 20. don't do one if it's in forbearance 21. don't do one if there is a 2nd loan or lien 22. don't do one if the other owner is in jail or "location unknown" 23. don't "not" record the warranty deed. 24. don't do it at all without disclosures.
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26 June 2020 | 10 replies
If you sell an investment property to defer CapGains and depreciation recapture you have 45 days after the close of your relinquished property to nominate 3 like-kind replacement properties and then another 135 days to close on them (please talk with a 1031 qualified intermediary BEFORE you do anything, they're very helpful and no fee).If they can keep you in deal past 45 days, then it kinda forces your hand as valid replacement property.
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23 June 2020 | 1 reply
Fortunately, we provided a home warranty with the sale.
23 June 2020 | 2 replies
I also believe it's better then the phone call, as they can look for themselves to validate the person/company sending the message.
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23 June 2020 | 1 reply
Please validate with an accountant, but it allows the seller to realize the gains as you pay them over several years.