All Forum Posts by: Andy R.

@Carl Harris Jr Try connecting with lenders in the St. Louis market and go over the numbers of the deals and your combined household income to see if you would qualify for all 4 conventional loans. You may qualify for only some and could wholesale what you don't qualify for. 

@Katie Miller, where do I send the receipt of payment for the bonus content?

Thanks!

Does anyone know what happened to Nationwide RentSure? The link that Sky Mikesell from the company suggested is not up. http://www.nationwiderentsure.com/

Thanks, 

Andy 

Hello All, 

A friend asked if I knew any attorneys that deal with sink holes. From what I understand, he thinks there may be a sinkhole issue with the home since there are cracks alongside the outside of the home. After finishing an investigation, the insurance company stated that the home is not in a sink hole area. The owner wants to make sure that the home is not on any sink holes. 

Thanks, all!

How many people should be on the lease?

I was speaking to a buy & hold investor in Florida and she says that she only puts one person on the lease, the breadwinner in the relationship. She still runs background checks on all people over the age of 18.

She says she does this because if the higher earner were to leave (divorce, breakup, death) and stop paying rent, she doesn't have to go to court to evict the remaining tenant (if remaining tenant does not continue paying rent) but rather call the police because now the remaining tenant is trespassing. 

BP, what are your thoughts on this? 

Frank, thank you. 

Hey All, 

I currently have my 2nd property under contract and expecting to close soon. Here is a situation we ran into.

Here are the details using different names: John is the seller and I am the buyer (this is in the state of Florida). Kate sold the property to John in 2004. 

Shelly was the only person on the deed since the property was built. In 2003 shortly after her husband died (who was never on the deed), she quit claimed the deed to herself and to one of her daughters, Kate. 

In late 2003 Shelly dies and in mid 2004 Kate sells the property to John (an unrelated buyer). Here is where we run into some issues. A death certificate was never recorded for Shelly with the sale of the property. There was also no joint tenancy with right of survivorship on deed. Technically, Shelly's next of kin owns the other half of the property. We know her husband died so it would go to her children, one of which is Kate. John has the title policy from the sale and the underwriter, Fidelity National, may be willing to re-insure the title (pending approval); explicitly stating on the new title policy that they are aware of this issue and if some heir where to come after the property they would be responsible. 

From what the agent at Fidelity National is telling me, this should give me the clear to close while having the protection that title insurance was designed for. 

BP, what are your thoughts on this?

Thanks!

Hi all, 

What title company have you used and continue to use in the Central Florida area?

Thank you, 

Andy