Nazar Trilisky
Private Lending Risks and Mitigation
Are both a Promissory Note as well as a Deed of Trust needed for a small private loan (~10% of single-family house cost)? I've gotten two "yes" and two "no" responses regarding the need for a Deed of Trust. All four...
John C S.
Help with house closing
Hi all I have a question for a friend of mine. They are trying to buy this same house for about 6 months now. Every time there is a closing date scheduled there always seems to be an issue. The latest issue is now the...
Venu Vedre
Lending money to a General contractor
Any thougths are appreciated. Here is the background:
Background:
I met a General contractor a few years ago through a local RE meetup in Charlotte NC area. I have seen his work onsite and He is very good at what he...
Account Closed
Subject To : Seller filed a bankruptcy
Hello,I bought a property last year subject to existing financing.Later I sold this property on owner financing to another buyer.I was making regular payments to the existing loan since i sold the property.Last month ...
Ann Howell
Assuming risk when foreclosing on a note
Hi all - I am new to Bigger Pockets, and I am exploring several investment options. One option is to buy first position, performing notes. I want the monthly cash flow more than I want to get the property.However, I...
Charles Ferguson
Seller Accepting Other Offer After Signing Contract with Me
I got a property under contract with the seller on Saturday, August 22nd. COE on the front side PSA is "on or before September 21st". The title work is back and clear so we are ready to close on Monday, September 14th...
Account Closed
what do you think of these HML junk fees?
Hello guys,my partner and i are using for the first time a local hard money lender in the los angeles area. We are borrowing 250k over 3 monthsWe just received their estimated settlement statement which seems to carry...
Randy Gross
Advise with title issues
i found a great deal and i don't want to lose it. upon having a title search done here are the issues:
2008 bank files for foreclose
2011 owner later files for bk (has 2 homes only included 1 home and n...
Abdenour Achab
Statute of Limitation on Notes secured by Trust Deeds - California
In California, the statute of limitation on unsecured promissory notes is 4 years from the date of the first default (with several exceptions). More generally, the statute of limitation on written contracts is 4 year...
Brady Mullen
When Should I Use Debt?
It's undeniable that debt has the power to consume. Anyone who has let credit card debt run amuck can attest to this.
I'm writing this from a place of humility. I have learned some of these lessons the VERY hard wa...