All Forum Posts by: Alec Anderson

I've had success with Choice Title Co, right across the border in Ringgold

@Jon Holdman @Mike M. Care to elaborate on why you wouldn't use a land trust in a subject-to? I have all the proper paperwork and disclosures from another investor friend who's done a dozen subject-to's. I had just always heard this is a way to lower the odds of the lender calling the note due, but not 100% foolproof.

I'm trying to close my first subject-to deal and my title company is unfamiliar with the process. Being that it's my first one I'm not exactly sure how to explain it to them either. My understanding is that the property gets put into a land trust, and then the owners assign me beneficial interest into that land trust. Am I right so far?

The title company is asking me if the warranty deed goes into my name or into the name of the trust. I'm thinking it's the trust but figured I'd ask the experts at BP! 

Is there anyone out there that would care to explain the closing process to me, or help me to get a better understanding?

Thanks,

Alec

@Anthony Lewis pm sent

Welcome @Amit P.! If you're looking for turnkey 1% rule properties you can certainly find them on the mls, you may just need to look in different areas if you're having trouble finding them right now, because they are definitely out there! 

@Karen Emery So far I've made 2 cheap wordpress websites for buyers and sellers and just done free postings on craigslist and FB groups, and some cold calling from driving for dollars. I plan on putting profits into marketing in the future, but I kind of wanted to see if I could do a deal without spending money first!

Was that the Rock Spring house? If so I remember meeting you guys! We went back there last Wednesday and it looks awesome! I didn't even realize there was an events section on this site, but I'll keep an eye out now!

Hey all, I've made a few posts but never officially introduced myself. I've been obsessed with learning and have listened to every podcast, but now I'm trying to force myself to take more action and put myself out there! My wife (fiancee at the time) and I moved to the Chattanooga area a year ago and we bought a house in East Ridge, TN shortly after. We love all the outdoor activities available here! I was house hacking my place before then and moved out and it is now an awesome rental for me in Cumming, GA. I've been to a few local meetups and have already met some great people who are already where I aspire to be someday! I recently started marketing for deals and closed on my first off market property last week, and I have a few more in the works! I'm excited to find more deals and plan on wholesaling and flipping to generate cash to purchase rentals for more passive income! We have a baby on the way and it's crazy how motivating that can be to get my act together, haha! I'd love to meet more like-minded people and grow with everyone! -Alec Anderson

That pdf link was from this page https://www.fema.gov/media-library/assets/documents/17576

Thank you for that very informative post! I did a quick search and found this https://www.fema.gov/media-library-data/1504130201139-6583a0c5affd0c6d3d90aabe1116c647/PRPTables2017updated081617-508.pdf would this be the rates charged, based on home value, or does it vary from insurance carriers?