All Forum Posts by: David -

Steve, what company are you getting these great rates through?

I'm just curious what everyone else is paying

for sfr duplex and quadplex?

This question does not apply to me as I do not under-report my income.

But say you are applying for a loan or mortgage and after the 4506 the bank has reason to believe you are not reporting correctly or your income on bank statements do not align with tax returns, would the bank report this?

If so, is there a legal requirement for them to report this?

every lender you have a mortgage with reporting that address on your credit report instead of your primary address?

does the grantor have to personally file the qc deed with the clerk of court or can someone do it for them as long as it was signed in front of a notary?

if someone filed it on their behalf would it require a power of attorney?

I have never been interested in wholesale therefore I don't know too much about it. I have an opportunity to whole sale a commercial office building for a nice profit so I'm doing a little research. Anyone that can answer these questions, I really appreciate it:

1. Does contract have to have a clause that says it can be reassigned or is it re assignable as long as it doesn't say it can't be reassigned?

2. The owner of this property is being foreclosed on and he is allowing me to have the property for the payoff amount of the loan. Problem is the payoff changes every day due to late fees, etc. How should the contract be worded so that the property is sold for what ever the payoff is at time of closing?

Thanks,
David

Or is this type of deal even plausible?

ex. somebody is selling 50 lots in an uncompleted subdivision. you build on the lots and they are paid off as the homes are sold.

say sale price of $10k per lot, they would receive $10k from the sale of each home, plus interest maybe?

ex. $100,000 principal, how much lump sum payment would be typical?

When developing a LIHTC tax credit property do investors buying the tax credits expect to buy at a discount? I'm assuming yes, if not I don't see the incentive in investing in tax credit properties.

If so, how much of a discount is typical?