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9 June 2015 | 4 replies
Sorry for the amateurish nature of this question but I don't plan to use a real estate agent.- What marketing methods do you use (Craigslist, FRBO, MLS flat-fee listing, etc.)?
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8 June 2015 | 6 replies
The restriction requires that you as the buyer has "skin in the game" to ensure that the 1st lien holder is not the only one at risk.
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8 June 2015 | 3 replies
So I think it's not really the ability for the property to cash flow, because you can get pretty much any property to cash flow, but rather a function of how much skin you're willing to have in the game, and more importantly...your cash-on-cash ROI.
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10 June 2015 | 9 replies
And it's not because i'm any good at my job, just because the rules allow me to do so.Death of all obligors - Can file NOD provided there are no legitimate successors prior to 120 days.Loan made to a non natural entity - Can file the NOD without the 120 day ruleIlegal transfer of ownership - Can exempt you from the 120 day rule.Senior or subordinate lien holder is already in foreclosure, lien holder can join and file NOD prior to 120 even if their loan is current.
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17 June 2015 | 74 replies
That's a very good point starting out it seems impossible but as you gain experience and grow it will start to come more natural.
10 June 2015 | 4 replies
Sale ContractReal Estate Transfer Disclosure Statement (shouldn't be many given that it's raw land)Natural Hazard Disclosure StatementCredit Information Form (I am open to financing up to 60% of selling price)Installment Land Contract (If I do indeed finance the property)Offer To Purchase Real PropertyCounteroffer To Purchase Real PropertyAcceptance Of Purchase OfferDeposit ReceiptContingency ReleaseI imagine a Title company needs to be involved to assist with processing the change of title documents and hold funds in escrow.
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23 July 2015 | 16 replies
Having a short fuse only adds to the predator nature.
13 June 2015 | 13 replies
I would suggest building a strong team around you for the first few investments while you get some skin in the game.
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10 June 2015 | 1 reply
If you've owned the property for less than one year, most banks will not allow you to pull out any equity, just reimburse your expenses in the new loan amount, but keep skin in the game from your initial deposit.
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10 June 2015 | 2 replies
You'll need a bank that's willing to lend you this amount with you having "no skin in the game," but since you'll be acquiring a commercial loan and not a residential loan, seeing as that's how financial institutions classify investment mortgages, you shouldn't have any problem finding one who will (you'll just have to search).