All Forum Posts by: Eric Z.

Of course, its on case by case basis, but In general, if the profit margin is thin(80% in my area), an equity partner is better, you share the risks, and cost of the money is relatively low on thin margin. Everyone makes more money than taking on the hard money. In fact, you will lose money operating on that kind of margin with hard money. 

When you have a good margin(65% - 70%), then equity partner becomes expensive if they bring nothing else on the table. You better off getting a hard money in that case. 

@Johnson H. it was an amazing meetup. Thanks for organizing!

I’ve talked to many lenders, so far I have 3 different versions of about this 10 financed property rule.

version 1

10 financed properties per person as long as one person take the loan on each purchase. Couple can hold the title together

version 2

10 financed properties per person, but only one person can be on the loan and the title on each purchase.

version 3

10 financed properties per couple if you file tax return together. The lenders look at the tax returns.

which one is true here? or does different lenders count the 10 differently?

Just receive a letter from the city, they will be doing a improvement project and is asking us to grant access to the property that tenant is living in. 

Does anyone has experience on that? and know what happens if we just ignore the form?

here are the relevant lines: 

GRANTOR, in consideration of the promises made herein, hereby grants and

demises to GRANTEE and its authorized agents the right and privilege to enter the

PROPERTY for purposes of Conducting an environmental and geotechnical analysis and

contour survey over and across the PROPERTY in connection with the PROJECT.

The GRANTEE, by acceptance of this Right of Entry agrees to, at all times after

completing any work on the PROPERTY, restore the surface of the PROPERTY,as nearly as possible, to the condition in which the PROPERTY was found immediately before such

work was undertaken. When the context requires, singular nounsand pronounsinclude

the plural.

@Dave Metsker ,

Thanks for the suggestions. Well, in my market delinquent mortgage and lots of equity in any condition can easily be listed on mls and sold for higher amount cash than I can offer. Also I don't really see them that often(at all).

Any suggestion on the strategies for lots of equity, out of state family member, but not delinquent mortgage, i see these a lot more often?

@Rick H.  , thx for the advice. would you mind pointing me to a good resource for the checklist or docs I should be familiar with ahead of the time?

I'd think most new owner doesn't refinance the property, so the loan still under the person who passed away. That should make the new owner more open to subject-to deals right?

or did I miss anything?

I have a lead, the seller out of state, wants to sell 2 lots the same time. one empty and one with house on it.

The house is setting empty for awhile now. It's in placerville and is about 130 miles away from where I live. That and the empty lot doesn't meet my buying criteria.

However, I'm hoping to help the owner solve his problem and create a win-win out of the situation. I can certainly wholesale, but I'd like to have a plan b just in case wholesale doesn't work out. 

We have not discussed any number yet. 

Any suggestions will be appreciated. 

@Jeff Pollack sorry missed your meetup, had a schedule conflict, hope it had a great turn out? 

your iphone. You will likely have to setup through your carrier. here is a link if you use att. 

http://www.att.com/esupport/article.jsp?sid=KB409007&cv=814

@Kevin C. , 

I use google voice and loved it. The greeting you mentioned can be configured through its settings. If you do that, make sure you also change your the number of your forwarded phone's rings to more than 30s so that voice message goes to google voice instead of your phone. It takes a couple tries to get it right. 

One nice thing about google voice is that it has SMS/MMS support, believe or not, many seller prefer to contact me via txt msg.