Susan McBride
Applied for Forbearance and Was Offered Only a Short-Sale Option
Hi. I am currently unemployed and have my home on the market. I have very little equity in it and my loan balance is around $400k. It is one of the smallest, least expensive homes in a beautiful sought-after golf c...
Garrett Penfield
Inspection Discovered Fire Damage
Hi all,I am in the process of purchasing a fourplex, the inspection found fire damage in the attic. I have not personally seen it but attached are pictures from the inspection report. The former owner is deceased and ...
Andrew Holmes
Chicago Area Investors: South Holland NO RENTAL Alert
For any one investing in the South Holland area. From May 20th through Nov 20th there is a new ordinance passed by the village. No rental licenses will be issued for 6 months. I do not know why this step was taken but...
Diane Albano
2nd position in gap lending, first time investor need help
I did a gap loan to a wholesaler who has a few projects going on. This is my first time investing. I received a promissory note/ operating agreement. He promises to pay principal and interest at a yearly rate of 12 %...
Matthew Kelm
Hard money lender wanting an upfront payment
I was on BiggerPockets FB page and seen a hard money lender posting an offer of loan services. I contacted this person by the email that he provided. He asked for various types of documentation and sent me a loan appl...
Amit Dhawan
Commercial development - Due Dilligence key-careabouts for a Land
In my previous post under a similar heading I talked about my main learnings from a land deal that I'm working to close. In that article I focussed on what to be mindful of BEFORE signing the contract. In this post, I...
Ted Harris
FHA 90 Day Seasoning (the Flip Rule) Waived as of Feb 1st, 2010
YES, it's true! This waiver, which takes effect Feb 1st of 2010, is limited to those sales meeting the following conditions ....
here's the HUD link with specifics:
http://www.hud.gov/offices/hsg/sfh/waivpropflip20...
Nick B.
Texas First Financial
Hello BP!Has anyone heard of or dealt with Texas First Financial? (www.texas1stfinancial.com)?They advertise on the radio claiming to provide access to investments backed by real estate that pay 9% annualy.ThanksNick
Kevin Flowers
Where/How to start looking for probate leads
I'm looking to start getting probate leads to purchase homes in Wayne/Oakland/Macomb. Never done it before and don't have a clue where/how to start. I was thinking of sending letters to probate attorneys. Anyone have ...
Rakesh Rai
The new law requires a 15-day waiting period to obtain a Trust Deed.
Hello everyone, I have a question about the new law that prohibits obtaining a Trust Deed before 15 days. This is concerning because someone who urgently needs to live in a home can outbid us and submit their interest...