To protect the purchaser of the wrap-around mortgage, Texas Senate HB 43:provides for wrap payments to be held in a constructive trust by the seller for the benefit of the buyerestablishes that anyone collecting or receiving a payment from a wrap borrower in connection to a wrap mortgage owes a fiduciary duty to the borrower for the paymentsdiscloses the nature and risks of wrap transactions to buyers and offer consumers the right to rescind transaction/agreement when disclosures are not made timelydefines “wrap mortgage loans” as a residential mortgage loan:made to finance the purchase of residential real estate that will continue to be subject to an unreleased lien that attached to the property before the loan was madesecures debt incurred by a person other than the wrap borrower that was not paid off at the time the loan was madeobligates the wrap borrower to the wrap lender for payment of debt, the principal amount of which includes the outstanding balance of the debt and any remaining amount of the purchase price financed by the wrap lenderclarifies that a wrap mortgage loan may only be closed by an attorney or title companyprevents “house flippers” from registering as financial service providersprohibits a person from making wrap mortgage loans unless the person is licensed or registered to originate or make residential mortgage loansThe new law goes into effect on January 1, 2022.

@Eric KajkaTHanks for the post   1) your FIL  will have  approx 2-3%  of selling expenses  assuming there are no realtors involved ..assuming 600K sales price  and existing loan amount  he will likely  net   a bit under the  400K  needed for AZ house ...he  will also likely have  some  costs  involved  with moving and buying the  AZ home .   

I was informed of high water bills on April 1 and had the problem fixed across April 7-8.

H&R Block where I’ve gone for 26 years to the same accountant who also owned the franchise charges a set amount per document you bring in.

A lot of lenders will require you to have owned the place for a certain amount of time.

Hello all, does anyone have a good accurate flip calculator they use in order to decide if the flips are good deals? Hitting the numbers you need in order to be profitable.

Thank You.

The other strategy I've considered, but have no idea if it's feasible, is getting some sort of hard money loan for a live in flip just to get the place and then refinancing it with an owner occupant loan once it's fixed up and I move in.

It will depend on your FICO, loan amount, property type, number of units, level of experience, etc.

This is our first investment home and we wanted to fix it to do short-term rentals, but the first requirement is to build a privacy fence.Any advice or suggestions for this situation?

HiMy name is Nathan Lieber, I am new to real estate investments in Memphis.I am interested in buy and hold or fix & flip deals of SFH up to $100K.I would be happy to get some tips and start building some connections and local team.Thank you for your helpNathan Lieber