All Forum Posts by: Sean Dezoysa

Hi; can someone recommend a good website for basic legal services? I'm looking specifically to have my contracts reviewed at this time. (I've already called around and know what to expect from the local contract lawyers--now I'd like to see what my online options are)

I understand that creating a fund is expensive (mid 5 figures) and subject to SEC regulation. What are the issues beyond that? An experienced investor started to tell us at the last REIA about how there is significantly more risk involved with pooled funds instead of the standard series of liens. He didn't complete his thought though.

Anyone know why pooled funds would be riskier to use?

Thanks

What newsletters do you subscribe to that further your real estate/investment knowledge?

I just signed up for the Norris Group's newsletter. They track the California real estate market.

Hi; I understand that a wrap mortgage covers the underlying loan + seller's equity. What I don't understand is who qualifies for it. Do I need to show my financials, or do I line up an end buyer and have them show theirs?

Thanks

What techniques are good for selecting neighborhood/city regions with high concentrations of junker properties?

Right now my only filter is "low income" neighborhoods. I'm sure there are better demographic targets than that.

My long term goal is the same (hold) but I'm thinking that doing rehabs for a few years may accelerate my ability to obtain more rentals faster. I have a long timeframe to work with and have no desire to work less hours (I enjoy working all day--on things that interest me) so the learning aspect is a wash also.

I'm leaning towards doing rehabs right now. I haven't run the numbers but my hunch is that making $30k a rehab will produce such a high short term ROI that it makes sense in the "early years" of an investor's career.

Why not talk to the seller in a concerned voice about how selling through the MLS yields about 90% of the purchase price after realtor fees, concessions, and transaction costs? And then explain how you can certainly offer "full retail" (90%) if he can wait for some of it...

Hi;

My question is about who's liable for TI on a deal-gone-bad:

If a property is taken over subject to existing financing, and the new owner walks away from it, isn't he liable for the TI (taxes & insurance)? Or is the old owner who signed the mortgage liable for taxes & insurance in this case?

Hi all;

It's been on my mind that it probably makes more sense to start out in rehabbing than buy/hold. You're tax inefficient, but the speed at which you raise the cash is probably worth the lost taxes/principle/appreciation because you can then do a lot more deals.

Has anyone worked out the numbers for figuring out when it makes sense to stop rehab/flipping and just start holding everything?

Hi; although many buildings on this list aren't of interest, there are also neglected houses on the list with motivated sellers.