All Forum Posts by: Bryan Davis

@Dennis Lanni : Do you find that your title company has any issues with the QC deed? I've spoken to three companies and all three say that they can't and/or won't insure a QC deed transfer.

I would focus on wholesale flips using assignment of contract and keeping your cash out of the deals. You can't lose a check that you don't write!

Get the inspection, it's cheap and sometimes even free if you're asking for a bid for repair.

@Dennis Lanni : That's kinda where I'm at now. Sister wants $1000 for her interest, jailbird wants $6500 but will deed it to me now and wait till I sell for his cut, drifter doesn't seem to know WHAT he wants. If I dropped the $1000 into the sister's stake, is there any way to ensure that it doesn't get sold to anyone else without my knowledge. I'm uncertain about recording a deed with only partial ownership. Is there some kind of memorandum or something?

Seriously? Now that's an idea! I'll have to make some calls tomorrow. Thanks for that tidbit!

Oh and as an aside, look into term life insurance. I was in the insurance industry for a few years and cash value is a HUGE waste of money as is evidenced in the commissions you get for selling it. You can get the same coverage for WAY less. I have Primerica myself (even after working for 'em) and preach their gospel to this day.

I'm not trying to spam anything here so nobody shoot me BUT... I use the proof of funds generator that is a part of Ron LeGrand's Gold Club. I have a link in my signature block below, it IS my personal affiliate link so if you want to Google it so I'm not making anything off of anyone here, feel free to. He'll allow you to generate POF letters on demand for up to $300,000 and will even send bank statements to the seller if requested. Just something to check out.

Yeah I'm picking up on that persistence thing, this is my second probate deal in as many months. I've done one in the past where I was able to just get an affidavit of heirship for the sole surviving heir and that allowed transfer of title. I bought that house for $1000 and sold it for $33,500! I've been working with a couple of attorneys trying to sort this one out but the drifter keeps disappearing and doesn't have a known address so it's hard to pin him down. I think he's got legal woes that he's trying to dodge. Is there any value to getting the deed from the other two heirs? Would this at least lock it up for the future? Can I even record "partial" ownership?

I would expect there to be some kind of commercial loan geared toward such things. Have you shopped any lenders? What about private lenders?

Welcome to BP Jerome! I'm in Grand Prairie, not to far from you. I've been attending some of the AREA real estate group events run by Dennis Henson as both a student and a sponsor (I operate TheYellowLetterGuy.com) and have found the group to be a great place to network if you ever care to join us. I can relate to your educational background, I just graduated in May with a B.S. in Physics but am finding myself to be a bit unemployable due to an stiff entrepreneurial streak! Good luck in your ventures and feel free to holler at me anytime.