The thing is that the notice is a requirement to actually file an eviction at court, but its worded like you have to get out in that amount of time or face a legal suit.

i think it's even better to take it one step further and purchse an LLC with IRA. if done right you don't have as many restrictions and have more control.i'm actually in the process of doing this right now. plus, i am getting a huge LOC for the LLC thru the company who is setting this all up for me.it will be just for RE.the company is called Wolfe Capital Group. very interesting.jimbo

In the real world, there will be a bunch of expenses including holding costs, legal fees, etc, etc, etc.

Therefore, I sign all documents as follows:For ABC Rental Properties, LLC,Michael Rossi, ManagerThis is completely legal and morally correct.

The buyer is also legally liable if he knowingly breached a valid contract.Many times wholesale deals are vacant, so having someone look at it many times isn't a big deal.

Hello everyone, please somebody with a legal expertise or a guaranteed answer, :violin: I would like to get some info about assignments and whether they are legal.

People at each of these agencies said that it did not sound like it was legal, however no one could confirm it for me (bureaucracy at its finest!)

As another person stated, there's just not enough information about the scenario and the individual needs of the borrower to determine if an interest only loan is appropriate.There is no restriction on an interest only loan preventing a borrower from making principal reduction payments.

arent verbal agreements in some states legally binding?

If they want to the first lien holder can legally foreclose at that point via the Due On Sale Clause, which states that if title is transferred the lienholder can accelerate the note and foreclose.