All Forum Posts by: Daniel DiGiacomo

What are you guys doing? Whats the plan? Are you guys contributing capital? Equally? 

One time I was rehabbing a house (as a rental) and the elderly neighbor came over and asked if we would fix a leak in her roof. It was a pretty simple flashing issue. We fixed it. A couple years later she called and said she was going into a nursing home and wanted to give me her house. I paid off her taxes, water bills, some other miscellaneous bills, paid $1,500 to do a traditional closing and the house was "free".

I believe my accountant included staging items as cost-basis for the investment. I can double check. Shoot me a direct message and I'll relay the info. 

I would get permission to speak to the bank... get real numbers from he bank. Often the owner doesn't even know how much they owe (principle, penalties, interest, etc.)

Tell the bank you want to make an all cash offer. They'll probably put you in touch with a different department.

Make your offer and see what happens. 

1/2% For how long? Line of credit or loan?

Interesting. 

I like cheap money :-)

I'm not a lawyer nor an accountant: 

However, I'm to understand that if the lender requires you to PG the loan, then your personal income/assets could be on the line in the event of default. If you don't PERSONALLY GUARANTEE the loan, then, bar gross misconduct or criminal activity, your personal assets are safe. 

Congrats on your lead... I hope it works well!

Sam, depends on so many factors. What is your website and what have you been doing as far as optimizing. 

The first thing that comes to mind for me is spend time learning who to wholesale properties, build income and cash reserves and start your buy and hold career using your profitable wholesaling venture to fund the whole thing. 

Normally just the assessor.