All Forum Posts by: Daniel Elbe

I agree with Nazz.  As another active duty soldier, I think the best way to avoid this problem is have them put in a deposit with the lease to hold the property.  This will also help you filter out the ones who you don't want to rent to in the first place (tenants that will try to sublease without you knowing, the ones that will counterfeit deployment orders to break a lease, the ones who have trouble affording the security deposit).  Great call geting the CO and 1SG's info.

Thank you for all the feedback!

Brad, thank you for the recommendation, I will contact him!

I'm looking for recommendations for a thorough home inspector in Colorado Springs.  Specifically someone with experience with turn of the century homes in the Old North End.  Does anyone have a recommendation?  

One will probably lead to the other, but does anyone have a recommendation for a carpenter/general contractor team with experience working with the same area?

Thanks!

I grew up on the East Coast, so not used to seeing much stucco.  Now living in Colorado, they are pretty common.  From a investor's point of view, what are the advantages of using stucco vs. traditional vinyl or shake siding?  Based on anyone's experience, is it worth it when flipping homes?  What about as a landlord?

Thanks!

Greetings all,

Looking to close a cash deal on a wholesale house with private money in Euclid, OH.  I've invested in the area before, but through traditional mortgage.  Does anyone have a recommendation for a RE attorney and title company out there?  Looking for help on promissory note and escrow.

Thanks!

Dan

Dawn, thanks for the response.  That's exactly the guidance I needed.  

We are going to move forward with cash purchase on the house with no payments to the lender until a year after purchase.  I'll pay the lender back in full, plus a 10% return on his investment.

I'm looking to close on a wholesale property out of state with a private money lender. He has ample cash not earning much appreciation, so the opportunity to fund a buy and hold investment is appealing to him. He has no experience as a RE lender, but is interested in the deal. This would also be my first deal with a non traditional loan.  My first instinct is to structure similar to a hard money deal, refinance and pay him back quickly.  The home will cash flow well, hitting beyond the 2% rule. My biggest interest right now is to structure the deal to make him money and encourage future investment. 

Does anyone have experience structuring deals like this that doesn't mind sharing some wisdom or experience? What outside resources do I need to have ready to close quickly? Lawyer? Title company? 

Thanks, sorry for the long post!

Thanks @Bill Gulley 

@Travis Daggett 

Is this a service that title companies are used to providing?  How do I start that interaction with them?  As a new investor to the Colorado Springs area, would I just approach a title company, and tell them my parameters?  If they charge for a mailing list, what is a good price?