Mike Cartmell
Creating a first position note on a free and clear property
First off, please excuse my ignorance on this matter and thanks in advance.
I have come across a property with a tax lien on it where the owner would like to redeem. He has recently been through a bankruptcy...
Jessico Bowman
Mount Dora Partial Live-in Cash Flow Positive BRRR & Flip
Investment Info:
Single-family residence other investment.
Purchase price: $74,900
Cash invested: $10,000
Sale price: $185,000
Bought, live-in renovated, refinanced to buy another property, moved...
David Michael
Pursing a home after the bank has taken position at Auctio
I was at the sherrif auction last week and a house I was interested in went to the bank. Usually I contact the attorney handing the case. I was interested to see if anyone in Bergen County has an experiance with a str...
Scott Reynolds
Ways to figure out HELOC amount on a first position lien
Thinking about bidding on a house (for a personal residence), which is somewhat complicated with four liens against it. The foreclosure auction is actually for the second position lien, which was a private business lo...
Michael Wagner
Is there a way to enhance security of Minority Equity Position???
Hoping someone can help me with this? I am in the process of putting together a JV and my needs from the investor are such that only a minority equity stake position (with preferred returns) is justified. I have sev...
Bob Malecki
Question on 2nd position npn in CA -- can I contact borrower?
Hi All,
I just purchased a nonperforming note in 2nd position on a nice home in Los Angeles. The first is performing and listed with Chase. There is equity in the property even with both the first and my seco...
Account Closed
Find balance on a senior position, open ended line of credit?
I am looking at a house where the mortgage is in default and the sheriff sale is coming up. After the sale there will still be an open ended line of credit from the previous owner. The LOC is $25k and was originated...
Scott Pigman
Does John T Reed's formula for positive cash flow make sense?
A week or two ago there was a discussion regarding the 50% rule based on this "positive cash flow" article by John T Reed (actually Reed uses 45%, but that's neither here nor there for my question).In the article Reed...
Mike Sanford
Low Income- 200-300K Cash, How do I maximize my position
For the last four years, my wife and I have had slow, live in flips as our primary source of income, holding for long enough to avoid capital gains tax. I have 18 years construction experience and do most of the work ...
Daniel Grunewald
I need a recommendation for a first position HELOC Chattanooga TN
I have a house picked out off MLS. Between 50k and 60 purchase price. So lender options limited. It is an investment home. Prefer 20% down if possible. Looking for a recommendation for someone local, preferably ...