All Forum Posts by: Scott Mclaren

I do it all the time. Have never had a lender call the loan. I just get a warranty deed fill it out notarize it and record it. In Maricopa county it costs only a few bucks. As long as payments are getting made they dont care.  Just keep your name on insurance policy as an additional insured. 

I have a friend who has a 6 bedroom house in Las Vegas who has been absolutely killing STR for years. That being said , you really need to see what the HOA has to say about a particular neighborhood. I dont think my friend has a HOA. Also any restrictions from any municipality. Here in AZ the governor signed a law forbidding municipalities from restricting STR , but the HOAs have gotten really crazy about restricting them .

I would file the police report , file insurance claim , fix the unit , rent it back out.   

Very uplifting story! If more people thought like you this country would really be moving! Keep up the good work.

I have used Bill Kozub for a couple of things. Find him to be very sharp. I can’t put his phone number on here. Google him up he is in Scottsdale 

I would go and see what others homes in the park are selling for and renting for. Find out lot rent and what condition this home is in, 

I have used Bill Kozub for several real estate matters , mostly foreclosing on some notes. I have found him to be  very competent in real estate. ‭ google him up as the site won’t let me put a phone number here 

Thanks everyone for all the input! My main concern is keeping the original note in case of a contested foreclosure. It seemed to be a big deal during the mortgage meltdown. The "show me the note" defense. Was wondering if copies of everything else would suffice.

 So I was going to my safe deposit box to put the original notes in there to keep them safe. I know it is important to have the original note. I am wondering if the allonges , modification agreements ,and what else might be equally important and should be put in a fireproof place.  Thanks for any input.   

I like rentals for tax benefits and notes for simple cash flow. Notes when bought at a discount to UPB (unpaid principal balance) can and often do pay off early when borrower sells or refinances and you get the benefit of the discount . I like having both. Rentals and notes. Starting to like notes more .