All Forum Posts by: Buck Ivie

Im in Texas to start with. I have a question about a possible lien being put against my house. I had an oilfield rental business that is most likely going to fail due to oil price collapse. The rental business is under its own LLC but I had to borrow the money to build/buy the equipment under my personal info. That was in January 2014 and then again in July 2014 I borrowed more to the sum of 160k. Since then I have also bought a personal house in October 2014. My question is if the rental loan gets called in and the equipment gets repoed and they auction it off can the remaining balance be put on my personal house as a lien causing me problems in resale? TIA

I have a large SF in Abilene if theres any investors in the area. Let me know if interested. 2900 sq ft 7br/4ba/2 car carport and single bay detatched garage. 85k

I just got another email from him again.  He doesn't get the clue I guess

ya I never got as far as giving him info. I really was done once he kept being so pushy. I guess w could put an alert on the forum about him

I had the same deal  a couple days ago with him.  Once he started seeming very pushy through email about hurrying up and sending him the documents I decided to not deal with him... got that shady feeling too

I bought my first property (a 7 unit complex) while it was in forclosure so it had a bank appointed mgmt team.  I decided to keep them on after talking to them.  They charge me a flat rate of $500/month.  Its not a big money maker but it makes decent money...anyway, my mgmt team takes care of nearly everything and I still get good money.  So I think finding the right one is very useful

 Thanks, that does put it out there a little better.  I guess im having the difficulties with hearing all the stories of how everyone is doing it with no $ of their own in it and I seem to get nowhere.  My first property the cash did all come out of my own pocket but going at that model itd take to long to get the second.

The second response by Nicole is kind of more what I was trying to get to, I just worded it wrong.  Offering back on an actual loan for the down payment is more or less what I meant

I'm wanting to do the same thing and I wonder if it's customary to give a ROI until the down payment investors cash is recouped or is it customary the investor ALWAYS wants equity?

Im looking to expand my holdings in the Houston / Galveston area.  I'm trying to see what or who I can find with private lending, I'm interested in finding all avenues of finance too.   I've been offered a couple Wrap-around mortgages on my current property so im educating myself on that too.

A little about myself so far.  I have one property in Galveston at the moment that has a triplex and a quad on the same property that I bought in 2013.  To date I have been putting everything extra it makes back into rehabbing it and making it better, its now cash flowing a nice little check monthly.  I jumped In in 2013 with no experience so I'm learning as I go but that's how I tend to do things.  This is not my primary source of income but I'd like to make it that way someday.  TIA

who has experience in these wrap around that wouldn't mind mentoring me on them a bit?  I've gotten a couple offers on my property in galveston, tx using one of these. I'd prefer not to but the little bit ive been able to read about on these I may be interested in one as a buyer. As a buyer how do I go about offering it, setting the terms, handle a contract on it etc... all info is very much appreciated