All Forum Posts by: Helen Kirk

Hey, there is a Montgomery REIA meeting tonight if you are able to go... here are the details:

Tuesday June 19th at 6pm downtown at 120 Dexter Avenue in the Exit Realty Building.

There is also a Montgomery REIA facebook page. You can view it at https://www.facebook.com/groups/MontgomeryREIC/

We have a REIA meeting in the Auburn/Opelika area once every quarter. Our next meeting is the 4th Tuesday in July. If you will give me your email, I'll add you to our contact list.

@Josh Skowyra the 41/2-5% means the Interest rate range he is looking for should be between 4 and 1/2 % to 5%.

@Matthew Spaulding If I put it back under my name and held it for six months, yes, I could refinance it. I could then quit claim it back to my LLC's name afterwards, but run the risk of having the bank declare the loan due and payable since it changed "owners". I want it to stay in my LLC, so I'm holding it for now and will revisit the refinance later on with a portfolio loan at my credit union.

@Matthew Spaulding I would have to take it out of my LLC's name before I could refinance it. I haven't refinanced it in the first place, so I am a bit confused about your question.

@Denise Evans then I should go ahead and contact them now, even before I pick up the tax certificate.  If it is void, I don't want to wait to get things settled.

I would purchase it under your name and not a LLC. I tried to refinance a property I got at foreclosure and held for a year. The lender was one of the highest ranked, and we went through the entire process until finally they said I had to change it back from my LLC into my name and hold it for another six months. Nope. I got the LLC for protection of my assets and do not want to do this. I'm checking with other banks and credit unions at this point.

Mark Jennings is also very personable. He runs the Montgomery REIA group.

@Denise Evans I'm pretty sure that she passed away before the tax auction since the auction was last Wednesday.  That might be the reason that the taxes weren't paid.  She was in her 90's.  She has two sons and a daughter as heirs.