All Forum Posts by: Bob Razler

Sadly I can't attend the meeting this time!  I will miss everyone!

Hello @Stephanie Kingsberry

Your local REIA meetings and BP meetup should have plenty of people with lenders they can recommend.

Also, there is the BP marketplace where lenders advertise.

Bob

Hello @Arturo Borges

Due to the various ways you can hold title (tenants in common, joint tenants, etc.), and all the decisions that need to be made I would highly recommend not putting everyone on the title.

It's much better to create and entity (limited partnership, partnership, LLC, etc.) where you can more specifically define the rights and responsibilities of all the investors/partners/lenders/etc. It will give you much more control and will make that ownership process easier.

Bob

Hello @Michael M.

If you are investing in Florida you have the benefit of a GREAT land trust statute. In FL land trusts have many of the benefits of an LLC. You can also set up a separate LLC to serve as the beneficiary and add a level of anonymity and protection.

You can take title at closing in the land trust (if you have title company who is investor friendly).

Or, land trusts also allow you to get the loan and property in your name and grant it into the trust after closing.  Land trust grants cannot trigger a due on sale clause under the law.

I recommend talking to a good attorney and title company who are investor friendly.  Drop me a line and we can chat or get together for coffee and I would be happy to share with you all I have learned.

Bob

Hello Luke:

Welcome to the community.  Always great to meet someone local.

I will drop you a line.  We can chat and maybe grab a coffee this week?

Bob

Another great meeting @Jon Huber !  

It was great to see everyone!

Hello @Blake Peery .  

Welcome to paradise!  I will send you a few names!

Hello:

A BK filing generally only delays any issues with the real estate.

A secured asset like a home, which has a properly perfected security interest filed against it (like a mortgage or an auto loan) is generally removed from the bankruptcy "estate" and the secured creditor is permitted to proceed with collection, foreclosure, etc. against to asset outside of the BK process.

So while the BK filing may result in a temporary stay of the foreclosure sale, the secured party just needs to appear and file a motion to have the asset removed from the BK.

Regarding the subsequent rights of the new buyer related to leases in place, etc., that is very State specific.  But since the asset is not part of the BK, you don't get the rights you would get in the BK forum regarding existing contracts.

Bob

FOR SALE: The services of an enthusiastic, energetic and knowledgeable real estate professional!

Hello:

Almost a year ago I made the jump into REI. It has been an amazing journey. I have learned so much and am learning more every day.

I am looking to make a career change and to assist my growth as an investor by finding work that more closely aligns with my values and goals.

My educational background is a BS in Civil Engineering and a JD in Law (not licensed in any state any longer).

I have spent the last 25 years in real estate, home building, and construction.

I am looking to work in just about any area of RE whether it be for other investors, property management, house flips, etc. I will work full or part-time, short or long term, contract, employee, JV, etc.

I am located in SE FL and would be willing to work there or remotely with someone in another geography.

If you have a need and are interested, please feel free to reach out!

Thank you,

Bob

Could the OP be thinking of Lakeland, FL?