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6 October 2018 | 4 replies
The situation is this: My Grandfather passed about 20 years ago and left his estate to 4 children, uncle1, uncle2, aunt and my fatherThere are multiple properties/parcels (6 total) in the estate that are co-owned by the 4 siblings, all 4 names on the deeds.Uncle1 defaulted on his personal mortgageLien holder(bank) repo’d his home but home was underwater, and thus still owed beyond the repo.Lien holder found out about the shared/partner assets that uncle1 had with siblings and decided to go after themI'm not clear on the exact process, but I believe the bank will take possession of uncle1 (1/4) share in the partnership properties then will legally force the 4 way partnership to be dissolved through a court proceeding.The other partners or another investor are able to buyout the bank owned (1/4) share at an appraisal price.The appraisal is filed with the court so there are no shenanigans with valuationIf no buyout then the whole property goes to sheriff saleTwo of the parcels are rental income farmland, these are the ones I'd be interested in investing inNobody in my family nor my grandfather are/were farmers, the acreage has always been rented outI’m trying to determine whether I can buy out Uncle's1 share from the lien holder bank at the appraisal price with an IRA LLC and become the 4th partner?
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5 August 2018 | 23 replies
You're going to have to be able to do high-level estimates on rehab costs.
25 July 2018 | 0 replies
My wife's mom co-sigined our mortgage when we purchased a 3 unit property 2 years ago.
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26 July 2018 | 6 replies
I am in search of an investment partner.Must haves:$100,000 in liquidity for co-investing strategy of:a) ME: 70%, YOU: 30% SPLIT OF FINANCING THE Purchase of a fully-occupied (5+ units) multifamily property located in northwest indiana. b) ME: 70%, YOU: 30% split of monthly profitsc) me buy you out after 5 years
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30 July 2018 | 2 replies
Am working on hiring a contractor but before doing that I wanted to find out what the market in this area requires for level of rehab and different ways to add value.
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29 July 2018 | 11 replies
This was gross incompetence on so many levels and now it’s value is drastically lower .
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27 July 2018 | 11 replies
🙋🏾♀️I have been thinking a lot about finding an investment mentor to talk some decisions through with but for the fun of it I decided to pick the collective brains of this massive community... ok here goes:So I have been thinking a lot about the strength of the current real estate market and whether it's time to sell my properties and take the proceeds to make some larger investments and go to the next level so to speak.
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9 August 2018 | 3 replies
Hi, I recently moved to Colorado and I am looking to invest in multifamily units (At least 10 units) to rehabb and rent them.
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4 August 2018 | 24 replies
If experience level is low.
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26 July 2018 | 0 replies
I am working on an offer for a house that is 2 complete stories (levels).