These proceeds are held in escrow and the title company will issue checks to the contractors to make repairs.

Have any of you that have been in the game started by Funding JV deals?

Title is still under his name and we have a contract written up for an option to buy it at 430k.

You’d split the 300 cash flow and each get 150 and you’d both be on title.

If you can't find them right off the bat, many times the title companies or lenders can tell you who does the most business there.

I see now in the title of your post you wrote Hamilton Park but in your actual post you wrote Memorial Park.

Just call a lender and a title company and you should be good to go.They could also seller finance the deals.

That will be a total game changer for you when you know what you can look for and afford.And@Shawn Q. suggesting you live with family or friends while you look for a place to owner occupy is a great way to save money for that down payment. 

I just don't think that's how the game is played- it comes off as a little greedy.

It's difficult to ascertain from the public records if the banks foreclosed on it because they never took title, even though they foreclosed on it.